G7 representatives agreed to provide Kyiv with $9.5 billion in new economic assistance. The target is called the stabilization of the work of the government in a war. The new financial assistance is mentioned in the communique of the finance ministers following the meeting in Hesse, Germany.

It seems that after the transfer of the said amount, the total amount of support for this year from the G7 will be $19.8 billion.. New funds include $7.5 billion in grants from Washington and one billion dollars in grants from Berlin. Another billion dollars will be provided by other G7 countries in the form of guarantees and loans.

“The aggressor is trying to create a food crisis by infringing on the possibilities of Ukrainian exports. Provokes a migration crisis, forcing millions of Ukrainians to seek asylum in European countries.

It uses energy resources as a hybrid weapon, which is already leading to a sharp increase in inflation in the world,” Prime Minister Denys Shmihal outlined the economic situation during a speech at a session with the participation of G7 finance ministers.

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According to IMF forecasts, in 2023 the Ukrainian economy will weaken as a result of the current war, we are talking about a contraction of approximately 35 percent.

Against the backdrop of the war that the Kremlin launched against Ukraine on February 24, Kyiv turned to Western countries for financial assistance, Bankovaya estimates the budget deficit of Ukraine at $5 billion a month.