Kyiv short of funds as Zelenskyy pushes reforms

Ukrainian President Volodymyr Zelenskyy has urged parliament to pass key laws next week needed to secure funding for the war effort against Russia and to advance reforms aimed at joining the European Union.

Economists say the country is behind schedule in meeting its legislative commitments, which has already delayed the release of billions of dollars from foreign lenders.

Ukraine needs external financing of around $52 billion this year. Zelenskyy said the bills are crucial to budget stability, including reforms to the judiciary and the energy sector. Votes on the legislation are scheduled for 7 and 8 April.

The situation is complicated by a €90 billion European Union funding package that has been blocked by Hungarian Prime Minister Viktor Orban. At the same time, Kyiv risks losing more than $3.9 billion due to its failure to meet the programme’s conditions.

Analysts warn that without the adoption of the necessary laws, the budget deficit could widen significantly and available resources may last only until May or, at most, mid-summer.

(reuters, max)