EU links new financing for Ukraine to economic reforms - Bloomberg

The European Union expects Ukraine to adopt new legislative decisions to reduce the shadow economy, increase tax revenues, and further align Ukrainian rules with EU legislation before providing new financing.

Bloomberg reports this with reference to EU representatives.

European Commission President Ursula von der Leyen, after meeting with President Volodymyr Zelensky in New York, directly linked further budget assistance to progress on reforms in the Verkhovna Rada.

"As reforms advance in the Rada, more budget support will come", von der Leyen said.

According to her, during 2026, within the EU-approved package for Ukraine, 37 billion euros are still available. This refers to the remaining funds from a broader support program that includes both budget and defense financing.

In 2026-2027, the EU plans to provide Ukraine with a total of 90 billion euros. Of this amount, about 30 billion euros are earmarked for general budget support, and 60 billion euros for defense needs. Payments of the budget portion are tied to Ukraine's fulfillment of a number of political and economic conditions.

According to Bloomberg, among the issues currently emphasized in Brussels are the fight against the shadow economy, increasing domestic budget revenues, and aligning Ukrainian legislation with EU norms. The publication does not provide a specific list of draft laws.

The topic of financing was one of the main issues during the meeting between Zelensky and von der Leyen on September 22. The President's Office reported that the parties discussed in detail Ukraine's financial sustainability in 2026 and 2027.

Zelensky stated that Ukraine is fulfilling its obligations related to the European loan in order to close the state budget deficit as much as possible. The parties also agreed to seek additional sources of financial support.

According to Bloomberg, Ukraine is asking partners to help close an additional financing need of approximately 26 billion euros and to accelerate payments within the already approved package. At the same time, the EU believes that part of the additional costs should be borne by other partners of Ukraine, including Canada, Norway, and Japan.

The European Commission has previously emphasized that budget support for Ukraine depends, in particular, on fulfilling conditions in the areas of rule of law, anti-corruption, economic resilience, and stability of public finances.

Based on materials from: Bloomberg, Office of the President of Ukraine, European Commission