Ukraine’s budget shortfall driven by external borrowing gaps

government building Photo: RoDobby / Pixabay

The general fund of Ukraine's state budget underreceived 757.8 billion UAH in the first nine months of 2026. The Accounting Chamber reported that the largest portion of this gap came from external borrowings rather than tax revenues. Tax revenues lagged behind the plan by only 3%, while external borrowings reached just 37.7% of the planned amount. Domestic borrowings exceeded expectations but could not fully compensate for the missing external financing.

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Photo: RoDobby / Pixabay