Pensioners and government employees might face delayed payments next year

Ukraine may need to delay pensions for millions of citizens and salaries for state employees if the West does not provide financial assistance in early 2024, stated Ukraine’s Deputy Minister, Yulia Svyrydenko.

Svyrydenko mentioned that the country would require external support amounting to $37 billion next year. The deficit in aid will push Ukraine’s economy into a survival mode. Ukraine might have to postpone paying salaries to 500,000 civil servants and 1.4 million teachers, as well as benefits to 10 million pensioners.

It’s worth noting that Ukraine’s debts amount to hundreds of billions of dollars. The state has long been unable to meet these payments and government budget revenues continue to decline. The country’s economy has been sustained solely by Western aid for the past year. Without it, the country’s economy could collapse quite rapidly.