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Ukraine expects to receive another $8.5 bln in aid by year end — National Bank

Ukraine has prepared a budget with a record deficit for two years in a row and expects to cover most of this deficit with aid from Western partners

MOSCOW, December 12. /TASS/. Ukraine expects to receive $8.5 bln in financial aid from foreign partners already in December, Chairman of the National Bank of Ukraine Andrey Pyshny said at a press conference broadcast on the bank's website.

"In December, Ukraine expects to receive about $8.5 bln in international aid," he said.

Deputy head of the National Bank of Ukraine Sergey Nikolaychuk specified, the money will be allocated within the framework of the EU aid mechanism Ukraine Facility - more than $4 bln, IMF aid - $1.1 bln, as well as about $3 bln from other partners.

Ukraine has prepared a budget with a record deficit for two years in a row and expects to cover most of this deficit with aid from Western partners. By 2024, the deficit will be $43.9 bln. Meanwhile, in the West, the allocation of new aid packages is taking place after lengthy discussions, and partners are increasingly warning that Kiev needs to step up its search for sources of self-financing

The National Bank of Ukraine said earlier that the inflation rate in Ukraine rose to 11.2% year-on-year in November, up from 9.7% in October.

There was also an increase in the inflation rate - in October it grew by 1.8%, and in November - by 1.9%. At the same time, according to the State Statistics Service of Ukraine, food prices increased in particular - by 3.9% in November.

The National Bank of Ukraine’s inflation target remains at 5%.