Ukraine's external financing needs next year will be at least $42 billion this year, as defense and security spending will remain at the 2023 level, Finance Minister Serhiy Marchenko said in an interview with Radio Liberty.

"Now we need $42 billion in external financing. Next year we plan no less. Why? Because we will plan the budget for the security and defense sector at the level of 2023," he said.

The minister clarified that as of now, defense and security spending for the next year is estimated at UAH 1.6 trillion a year, while tax revenues amount to UAH 1.3 trillion.

According to Marchenko, external funding for 2023 has been secured, while there are no guarantees of its receipt in 2024 in the required volume.

"As for 2024, for now, there is only an understanding that we have assistance from the EU: EUR 50 billion for four years. There is the IMF, which helps us collect these obligations. I hope that the United States will also be. I really hope! This is very important. Because the United States gives a grant assistance. But this is not a given," the Minister of Finance said.

As reported, at the end of July this year, the National Bank raised the forecast of the country's budget needs for the next year upward to $37 billion due to the deterioration of the forecast for the deficit of the consolidated budget (excluding grants) to 20% of GDP, and taking into account grants - to UAH 1.28 trillion, or 16.8% of GDP compared to UAH 810 billion, or 10.5% of GDP in the April report.