Ukraine can cover 2026 budget deficit only with partners’ help

Mykhailo Nepran, first vice president of the Ukrainian Chamber of Commerce and Industry, said this on Espreso TV.

“Unfortunately, Ukraine cannot cover the 2026 budget deficit on its own. Let’s be realistic — we live thanks to our partners. Such a large deficit, as planned for 2026, can only be fixed with the help of our allies. Ukraine does not generate enough to balance the budget. The war is financed by domestic taxes and payments, while the humanitarian sphere is supported by Western aid. The deficit is covered by the IMF, World Bank, and so on. This is the harsh reality: today we cannot close the deficit on our own,” Nepran explained.

According to him, even Russia, with its much greater financial capacity, is experiencing a budget deficit and shortage of funds during the war.

“Look at Russia, whose economy is far stronger than ours. They now face a deficit and lack of funds, despite far greater financial resources. Those fat 2000s, when they were called a gas station, when oil and gas profits created reserve funds — those days are over. Back then, taxes hardly mattered. Now they are already raising VAT by 2%. The state did everything to keep Russians out of politics. Now that’s over. For us, the situation is different — without partners’ support, it will only get worse,” he added.

• Prime Minister of Ukraine Yulia Svyrydenko announced that the draft state budget for 2026 has been approved and submitted to parliament. Its priorities are security, defense, and social support for citizens during wartime.