Transparency International Ukraine, together with the Institute of Analytics and Advocacy and with the financial support of the BHP Foundation, presents a report highlighting the changes that are needed for Ukraine’s economic growth.
This document is built on the principle of “follow the money,” which emphasizes the key stages of this route: obtaining funds, their distribution between needs, costs, control of use, and investigation and prosecution of those responsible if necessary. The institutions on this route first of all need to strengthen capacity, and their combination needs reforming. An important condition for the effectiveness and impact of these reforms is the comprehensive nature of their implementation.
The full-scale war has been going on for two years in Ukraine, which is why the country operates in conditions of extremely high uncertainty.
Ukraine needs USD 43 bln to meet its needs in 2024. The main source of deficit coverage is external financing in the form of loans and grants. Unlike in 2023, Ukraine has less clarity about the sources and amounts of coverage of the budget deficit for 2024.
We are assisted by international partners, who are increasingly sending signals that funding will only be provided if reforms are implemented. And this is not just about getting money or tracking progress towards our European integration.
Reforms are also a catalyst for economic growth and sustainability; they create conditions for attracting investment, gradually reducing the deficit, and, of course, reducing Ukraine’s dependence on external financing. In addition to consolidating external support, we must ensure effective management of limited public finances and increase our internal revenues.
Read more in our study.
The report was prepared by Transparency International Ukraine and the Institute of Analytics and Advocacy with the financial support of the BHP Foundation. The content of the material is the responsibility of the authors and does not necessarily reflect the views or position of the BHP Foundation.
This document is built on the principle of “follow the money,” which emphasizes the key stages of this route: obtaining funds, their distribution between needs, costs, control of use, and investigation and prosecution of those responsible if necessary.