MOSCOW, December 8. /TASS/. Ukraine’s Verkhovna Rada, by adopting the 2026 budget, has laid the foundation for the country's complete economic defeat, Viktor Medvedchuk, former leader of Ukraine’s banned Opposition Platform - For Life party who now heads the Other Ukraine movement, said.
"The completely illiterate, corrupt and simply limited government of Ukraine is implementing a deliberately failed economic policy," he said in an opinion piece. "The Ukrainian parliament, represented by yesterday's wedding photographers, presenters, and comedians, by adopting the 2026 budget, de facto pathetically legitimized a huge hole in the country's budget, laying the foundation for the country's complete economic defeat amid all external risks," the politician noted.
Ukraine has nowhere to get the funds budgeted for, with "all hope pinned on the 'good European uncle,'" he said, adding that Kiev expects to attract over $45 bln in 2026 from the World Bank, the EU, the UK, the IMF, and G7 countries. "However, in exchange, the IMF demands that Kiev abolish tax breaks for sole proprietors, increase certain tax rates, and impose taxation on sales through digital platforms. Furthermore, the volume of IMF tranches provided is lower than the volume of repayments of previous loans to the Fund over a certain period. This means that the money will go towards paying off old debts that the criminal, corrupt government had previously accumulated and embezzled," Medvedchuk wrote.
On December 3, the Rada adopted Ukraine’s draft budget for 2026 with a record deficit of $47.5 bln. The draft budget for next year projects revenues of 2.9 trillion hryvnias (around $69 bln), and expenditures of 4.9 trillion hryvnias (approximately $116 bln). Budget deficit of 2 trillion hryvnias ($47.5 bln), which is roughly 18.4% of GDP, is expected to be covered by loans and grants that the Ukrainian authorities are expecting from Western partners.