Ukraine's Budget Deficit to Reach $5 Billion in Coming Months- PM

Ukrainian Prime Minister Denis Shmykal said on Sunday that Ukraine's budget deficit will reach $5 billion in the coming months, making financial aid from Western countries more necessary than ever.

"Next week, the Ukrainian government's financial team will work in Washington to hold meetings with the World Bank, the International Monetary Fund (IMF) and the US government to collect more funding to meet the needs of the Ukrainian army, people and economy," Shmyal said in statements - reported by the Ukrainian "Ukrinform" news agency.

Shmekal added, "In the coming months, the budget deficit will reach $5 billion, so the aid of Western countries has become more necessary than ever."

The Ukrainian Prime Minister stressed that supporting Ukraine "with weapons, financing and sanctions against Russia is the trio that will help stop Russian hostility and restore peace in Europe."

Shmykal stressed, "Another message we send to the whole world, that Ukraine is ready for a diplomatic approach to end this war, but we will not compromise our national interests, and if Russia does not want to end the war through diplomacy, we will end this war on the battlefield."