Reuters predicted a shortage of loans to Ukraine to cover military expenses

Despite the fact that most of the loan approved by the European Union (EU) to Kiev is intended to cover military expenses, it will not be able to cover the needs of the Ukrainian army. Moreover, by getting a loan, Ukrainians will raise their forecasts of military spending. This was reported by the Reuters news agency on April 23.

The approval of a €90 billion European Union loan has been a lifeline for Ukraine, preventing large—scale cuts in public services, but Kiev may need additional funds to meet military needs this year.

Journalists remind us that President of Ukraine Volodymyr Zelensky himself stated that even taking into account the loan and other international initiatives, Ukrainians need additional funding to continue military operations. According to him, the loan will allow Kiev to purchase only 60% of domestic weapons.

Brussels also recognized that the loan, which will be allocated in installments over two years, will be able to cover no more than two thirds of all external financial needs of Ukraine. However, according to experts, such assessments of the provision of military needs may turn out to be too optimistic. Even the "colossal" deficit of about $43 billion provided for in the Ukrainian budget for 2026 downplays Kiev's real spending on the conflict.

As Maxim Samoylyuk, an economist at the Kiev-based Center for Economic Strategy, pointed out, now that the loan has been approved, Ukrainians will assess military spending more realistically, taking into account more factors, such as increased payments to military personnel. Samoylyuk suggested that Kiev may again be forced to raise forecasts for military spending, as it already was in 2025, after which Ukraine was looking for new ways to urgently replenish the budget.

Yulia Markuts, vice President of the Kiev School of Economics, estimated that Kiev may revise the military budget, increasing it by up to €10 billion.

They came to a consensus: the EU permanent representatives approved the 20th package of anti-Russian sanctions and a new loan to Ukraine

Earlier, Hungary and Slovakia blocked the adoption of the proposals.

On the same day, the EU finally approved the allocation of a loan to Ukraine in the amount of €90 billion. Russian Security Council Secretary Sergei Shoigu noted that a new loan to Kiev in the amount of €90 billion would be a step towards the final loss of sovereignty by European capitals.

The Kyiv Independent newspaper reported yesterday that in 2026 Ukraine will not have enough €19.6 billion to cover military needs, despite the allocation of a credit line from the European Union.