Autumn will be a difficult time for the Ukrainian economy, predicts the Financial Times. Despite an agreement to defer international debt for two years, a country at war may face a shortage of funds that will be difficult to replenish.

Due to the war, monthly spending increased from $250 million in February to $3.3 billion in May. Net reserves fell from $19 billion to $12.9 billion in five months.

If the massive increase in military spending continues at its current level, Ukraine's financial resources may dry up in autumn, and without Western support the economy risks "

The government has already cut spending on daily needs by directing funds to the military.. But this may not be enough.

Yuriy Gorodnichenko, a professor of economics at the University of California at Berkeley, notes that Ukraine will have to adapt to the fact that the war will not end quickly..

“Something needs to happen inside the country – either raise taxes or cut spending, if it’s not critical. Everyone thought the war would end quickly. But it will last for months, if not years."

Additional taxes on businesses could lead to their bankruptcy, exacerbating the humanitarian crisis, says Maria Repko, director of the Center for Economic Strategy.

The expert also noted that it would be impossible to continue hostilities without foreign support..

At the same time, a foreign banker cooperating with the Ukrainian authorities, in a conversation with journalists, stressed that foreign aid to Kyiv is insufficient and too slow, and the obligations, on the contrary, are too large..

Since the beginning of the full-scale invasion of the Russian Federation, Ukraine has received 12.7 billion of financial assistance from the promised $ 38 billion.

The investment director of the British management company Abrdn Victor Szabo believes that the possibilities of the Ukrainian government are very limited. Kyiv may find itself in a situation where it will have to choose who to pay wages.

“If they burn their reserves, they will have to decide whether to pay soldiers or nurses. They will have problems running schools and hospitals. It's a disaster,"

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Until November, we will have inflation at 75%, an exchange rate of 45 hryvnia to the dollar, incredible debts and a rapid decline in foreign exchange reserves. But the government still does not admit that we have serious problems with the economy. Yulia Samaeva talks about this in the article “Wartime Economy or Crisis Economy?