Zelensky complains about lack of Western financial backing

(MENAFN) Ukrainian President Volodymyr Zelensky has criticized Western allies for providing insufficient financial and military support, despite already approving substantial aid packages and loans. In a recent Telegram post, Zelensky highlighted shortages in air defense systems, weapons, and drones, stressing that additional funding is critical for both defense and negotiating strength.

The appeal comes shortly after the EU approved a €90 billion ($105 billion) loan to support Ukraine through 2026-2027, which will cost European taxpayers about €3 billion ($3.5 billion) annually in borrowing costs. However, the EU failed to reach consensus on using frozen Russian assets to assist Ukraine due to legal and political concerns, particularly from Belgium, which holds the majority of the funds.

The International Monetary Fund estimates Ukraine will require roughly $160 billion for 2026-2027. For 2026 alone, the Ukrainian parliament adopted a budget with a projected $45 billion deficit, equivalent to 18.5% of GDP, further complicated by ongoing corruption issues.

Senior adviser Mikhail Podoliak emphasized that Ukraine cannot finance potential elections amid the budget deficit, and that the government must prioritize military expenditures. He noted that holding elections would only be feasible if Western countries provide financial support to cover the costs.

This statement underscores Ukraine’s continued reliance on external support to sustain its war effort and stabilize its economy amid ongoing conflict with Russia.

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