President Volodymyr Zelenskiy urged lawmakers to pass important legislation next week to prevent a funding crisis, support Ukraine in the war against Russia, and achieve necessary reforms for European Union membership. Economists noted that Ukraine missed deadlines to access billions from key lenders due to slow legislative progress and insufficient reforms in late 2025 and early 2026. With an external financing need of $52 billion this year, which is about a quarter of the country’s annual economic output, the budget situation is severe. Zelenskiy emphasized the urgency of the draft laws essential for securing funding, including reforms to the court system and energy sector.
David Arakhamia, leader of the ruling faction, stated that lawmakers would meet on Monday to discuss the legislation and plan to vote on April 7 and 8. Ukraine significantly relies on Western financial aid amid the ongoing conflict, having received approximately $174 billion since the 2022 invasion. However, a critical delay in funding occurred after Hungary’s Prime Minister Viktor Orban blocked a loan to Ukraine. Economists mentioned that Ukraine was behind on its commitments under the EU’s Ukraine Facility program, risking over $3.9 billion in financing. The parliament also failed to pass laws needed to access $3.35 billion from the World Bank. If the commitments are fulfilled, the financial shortfall will be covered; otherwise, funds may only last until May.
With information from Reuters
