May 30, 2024
Finance

‘Internal Financing Potential Exhausted’ – Ministry of Finance Seeks Solutions for Mobilization Funding


Kyiv is unsure about how it’s going to fund new mobilization efforts, the Ukrainian finance minister said.

The internal financing potential for further mobilization has already been exhausted, and there are no available funds to artificially increase expenditures, Finance Minister Serhiy Marchenko said, speaking on the Business Breakfast with Volodymyr Fedorin podcast on Wednesday.

Spending choices and cost optimization must come from the General Staff of the Armed Forces of Ukraine and the Ministry of Defense, Fedorin said, but Ukraine’s economy presently lacks the internal capacity to finance its military’s requirements.

“If we need to find them, we need to understand in time — these funds need to be found today or it’s March-April-May, perhaps the second half of the year. That is, I need a picture, as the Minister of Finance. Then it will be possible to talk about meeting these needs,” Marchenko said.

While not ruling out the possibility of seeking additional income and internal sources of financing, Marchenko cautioned that specific figures cannot be discussed at this stage, as things haven’t been finalized.

“As of now, we have not come to this exercise yet. Although I understand that we will approach it in the near future,” Marchenko added.

The Cabinet of Ministers of Ukraine has published a draft law detailing plans to mobilize a further 500,000 citizens to replenish the military.

Ukraine Must Win, Mobilize to the Maximum

Other Topics of Interest

Ukraine Must Win, Mobilize to the Maximum

Only a mobilized military Ukraine, armed and prepared, can survive and win. Discussions on democracy and liberal values, unrelated to survival, will occur post-victory.

The latest development – as yet lacking full details – has sparked active discussions across social media, with many reacting negatively.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *