The draft of Ukraine's state budget for 2026 will be based on the ongoing realities of war.

This was stated by Ukraine's Finance Minister Serhiy Marchenko during a presentation of the government's action program.

«Our primary macroeconomic scenario anticipates the end of the conflict in 2025, but the alternative scenario involves its continuation into 2026. At this point, we must be pragmatic. Thus, our plans for 2026 include ongoing military actions,» Marchenko noted.

Consequently, this implies a need for external financing amounting to 45 billion dollars, emphasized the minister. These funds are required not only to cover the deficit but also to service debts.

He pointed out that this need is currently not fully met, but negotiations are already underway with key partners, including G7 countries and the European Union.

«I believe that together with our key stakeholders, we will arrive at an acceptable solution to meet these needs,» the minister assured.

Regarding fiscal policy, Marchenko stressed that the top priority is to maintain the share of budget revenues in GDP.

«The key task is to preserve the revenue share in GDP. We expect to achieve this through measures aimed at reducing the shadow economy and reforming fiscal authorities. This is our focus in negotiations with the International Monetary Fund,» the minister added.