EU’s MFA package of EUR 18B to cover Ukraine’s budget deficit significantly

The Macro-Financial Assistance (MFA) package worth EUR 18 billion will help Ukraine to cover a significant portion of the country’s budget deficit, totaling $38 billion.

The relevant statement was made by Ukrainian Prime Minister Denys Shmyhal on Telegram, an Ukrinform correspondent reports.

In his words, the European Commission has proposed a support package for Ukraine of up to EUR 18 billion for 2023.

“A very important initiative that will support the economic stability of our state and strengthen the foundation of our future victory. These funds will help to cover a significant portion of the budget deficit, totaling $38 billion,” Shmyhal noted.

The Prime Minister of Ukraine thanked President of the European Commission Ursula von der Leyen for her leadership, as well as Executive Vice President of the European Commission Valdis Dombrovskis and the Government of the Czech Republic for strongly advocating this decision in the EU.

“We expect a positive decision from the European Parliament and the Council of the European Union,” Shmyhal added.