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Kiev, Dec 25 (UiTV/IANS) – Ukraine will require at least $39.5 billion in external financing in 2023 to keep its economy afloat, a media report said, citing a recent International Monetary Fund (IMF) projection.
“Staff analysis suggests that external fiscal financing needs would be at least $39.5 billion in a central scenario,” the IMF was quoted by Interfax-Ukraine news agency as saying, Xinhua news agency reported.
Under a pessimistic scenario, which envisages that Ukraine’s gross domestic product will decline by 12.5 per cent, the country’s foreign financing needs will be around $57 billion, the IMF said.
According to Ukrainian Finance Minister Serhiy Marchenko, external financing of Ukraine’s state budget is set to reach $30 billion this year.
The Ukrainian economy, which was severely hit by the Russia-Ukraine conflict, is expected to shrink by between 32-35 per cent this year after a 3.4 per cent growth in 2021.