The government failed to prepare several regulatory acts required for funding
Ukraine failed to attract 26 billion euros in foreign funding on time due to the government's failure to meet obligations regarding the preparation of legislative acts. The total budget deficit is currently 49.5 billion euros. This was reported by Ukrinform citing the Telegram channel of Olha Vasylevska-Smahliuk, according to the portal PromPolitInform.
According to Member of Parliament Olha Vasylevska-Smahliuk, bureaucratic delays in the executive branch were the main reason for missing out on a significant portion of international aid. Prime Minister Serhiy Koretskyi admitted during a meeting with the parliamentary faction that the Cabinet of Ministers had failed to process and submit dozens of regulatory documents required by agreements with partners in a timely manner.
Lack of regulatory framework
The government failed to implement 44 regulatory acts, which condition the allocation of tranches worth 10.6 billion euros. An additional 2 billion euros are blocked due to the lack of the President’s signature on documents already passed by the Verkhovna Rada. Another 5.5 billion euros remain inaccessible as the corresponding 17 bills are still being drafted in government offices.
Budgetary financial gaps
The total shortfall in the state budget stands at 49.5 billion euros. Of this amount, 26 billion euros represent international resources that should have already reached Ukraine but have not yet been received due to the aforementioned reasons. The remaining 23.5 billion euros constitute a financial gap with no currently confirmed coverage sources.
Meeting participants, including business representatives and lawmakers, stressed the critical importance of promptly reviewing the necessary legislative initiatives. Implementing these changes is a mandatory condition for Ukraine to fulfill its international obligations and continue stable financing from foreign partners.
Illustrative photo: Daniel Haußmann / CC BY-SA 3.0
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