EconomyUkraine braces for financial crisis if Western aid falters

Ukraine braces for financial crisis if Western aid falters

Ukraine could encounter significant difficulties if financial assistance from Western nations ceases. Ukrainian Deputy Nina Yuzhanina mentioned that there is likely a 'plan B,' which would involve halting all expenditures except those related to the military.

Training of Ukrainian tank operators
Training of Ukrainian tank operators
Images source: © East News | GENYA SAVILOV
Paweł Buczkowski

7:47 AM EST, November 12, 2024

In an interview with the Novosti.live channel on YouTube, Yuzhanina explained that next year's state budget assumes that Western partners will continue funding the entire civilian portion. If this financial aid were discontinued, there would be no means to support these expenses.

The deputy was clear in her answer to a question about whether there is a "plan B" in case of a cut in external funding.

As reported by the Unian portal, Yuzhanina expressed confidence in the existence of a 'plan B,' which would involve suspending all non-military payments. Given the wartime situation, she emphasized the need for collective concern and unity and highlighted the importance of identifying alternative mechanisms for aid, payments, and restrictions.

The Ukrainian deputy criticized the current budget and stated that it is not optimal. She expressed dissatisfaction with the increase in road infrastructure costs.

Will the USA stop supporting Ukraine?

Concerns about the cessation of support for Ukraine arose after Donald Trump's victory in the USA presidential elections. On Monday, reports emerged that one of the biggest opponents of supporting Ukraine, Vivek Ramaswamy, is among Trump's candidates for the position of Secretary of State.

Meanwhile, representatives of most European Union countries assure continued financial and military support for Ukraine.

"The EU-Ukraine security agreement signed in June for the next 10 years is still valid. We have been supporting Ukraine and we will continue supporting Ukraine. Not because we are very friendly and we are very generous – but because it is in our interest! The security of Ukraine is part of our security!" emphasized Josep Borrell, the EU's foreign policy chief, while visiting Ukraine on Monday.
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