The Ukrainian government has submitted its 2025 budget proposal to the Rada, forecasting a real GDP growth of 2.7% for 2025 and 3.6% for this year, with an inflation rate of 9.5% and an exchange rate of UAH 45 per USD. The budget outlines a reduction in total external financing needs to USD 38.4 bln, a USD 2.9 bln decrease compared to 2024. The budget anticipates a decline in the deficit due to increased revenues from VAT and personal income tax, with the deficit primarily financed through external borrowings.