EC allocates 9 billion euros to cover Ukraine’s budget deficit

The European Commission will announce on May 18 that it will provide financial assistance to Ukraine in the amount of 9 billion euros to help Kyiv cover the budget deficit.

EU officials said, according to what was published on Politico. Brussels also intends to discuss several options with EU members to finance a project for the reconstruction of Ukraine, which will include increasing debt.

According to the International Monetary Fund, Kyiv needs 5 billion euros a month to keep its economy afloat. Accordingly, the Ukrainian authorities will need 15 billion euros to withstand the next three months.

In general, Brussels estimates the cost of restoring Ukraine at 500-600 billion euros, but this amount may increase as hostilities continue.

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