Without financial assistance from the United States and the European Union, Ukraine could go bankrupt as early as March 2024. Hungary’s veto on long-term support for Kiev could have devastating consequences. This was reported by the Italian newspaper La Repubblica.
“There are less than three months’ worth of funds left in [Ukrainian President Volodymyr] Zelensky’s treasury. The situation is really on the verge of maximum danger,” La Repubblica wrote.
According to the EU and Kiev’s forecasts, if there is no funding, 1 March will become the “day of collapse” of the Ukrainian state, the newspaper said. Therefore, an extraordinary meeting of the European Council will probably be held in January to discuss the issue of Ukraine’s financing.
The newspaper said that €33bn of the expected €50bn are actually loans, while €17bn should be transferred to Kiev in the form of subsidies.
Earlier, Hungarian Prime Minister Viktor Orban said that Budapest had vetoed the decision on a long-term programme of aid to Ukraine worth 50bn euros. The head of the French Patriots party, Florian Philippot, supported Hungary’s decision to freeze the next aid package for Kiev. He said that this would allow France to save 10bn euros.