MOSCOW, April 8. /TASS/. Ukraine’s authorities have almost entirely spent money from the state budget reserve fund since the beginning of the year, with only 1% remaining, Verkhovna Rada deputy Yaroslav Zheleznyak said.

"As of today, out of 49.42 bln hryvnias ($1.12 bln — TASS), 0.5 bln ($11.4 mln) remains <…> that is, 1%," Zheleznyak wrote on his Telegram channel.

The latest funds were allocated to payments under the National Cashback program launched by the cabinet in March, the lawmaker noted. From March 20 to May 1, a temporary cashback on fuel is in effect — the measure was introduced on March 20 following the escalation in the Persian Gulf and military operations involving the US and Israel against Iran, when oil prices reached four-year highs, exceeding $100 per barrel. Diesel prices at Ukrainian filling stations reached 95 hryvnias ($2.2) per liter, with forecasts pointing to even more severe scenarios.

Ukraine’s budget has been running a significant deficit for several years. Authorities in Kiev acknowledge that the country has exhausted its own resources, and finding funding is becoming increasingly difficult each year. The situation has worsened since the beginning of the year as the parliament has been unable to pass a number of key bills, the approval of which is required for Ukraine to receive new loan tranches from the European Union and the International Monetary Fund.