Ukraine may face delays in the payment of salaries and pensions for almost 12 million people if the West does not provide financial assistance in early 2024.

Ukraine may face delays in the payment of salaries and pensions for almost 12 million people if the West does not provide financial assistance in early 2024.

Source: This was stated by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy, in a comment to the Financial Times.

Details: As Svyrydenko reported, Ukraine may have to delay the payment of salaries to 500,000 civil servants and 1.4 million teachers, as well as payments to 10 million pensioners.

She said the lack of external support will push the Ukrainian economy back to “survival mode” after it began to recover in 2023.

In particular, Ukraine will need US$37 billion in external support next year.

Reminder: US President Joe Biden’s request for $60 billion is currently stalled in Congress, and the EU’s €50 billion support package is blocked due to Hungary’s veto.

At the same time, the EU is preparing a contingency plan worth up to €20 billion for Ukraine, which does not require Hungary’s consent.