Ukraine receives additional 1.5 billion euros in aid from EU
(VOVWORLD) - Ukraine's Prime Minister Denys Shmyhal hailed a new 1.5-billion-euro aid tranche from the EU on Wednesday, saying it will be key to maintaining Ukraine’s macroeconomic stability as the conflict rages on.
 Building are destroyed during a conflict in Saltivka in the Kharkiv region, Ukraine. (Photo: AFP/VNA) |
Shmyhal said he hopes for quick approval of the EU's multi-year 50-billion-euro aid program for Ukraine as uncertainty grows over US aid in the next year.
The conflict with Russia, now 21 months old, has hit Ukraine's economy hard, forcing the government to rely heavily on financial support from Western allies for social spending.
Ukraine is facing a budget deficit of about 43 billion USD next year and the government plans to offset this deficit with foreign financial support. Ukraine hopes to receive 18 billion euros in assistance from the European Union next year, and 12-14 billion USD from the US.