Budget deficit could reach $5B in coming months - Ukraine PM

That’s according to Prime Minister of Ukraine Denys Shmyhal, who spoke with ABC News, as stated on his Telegram channel.

"Next week, our team's financial unit will work in Washington. Meetings with the IMF, the World Bank and the U.S. government to raise additional funds to finance the needs of the Ukrainian Army, the Ukrainian economy, and our people. In the coming months, the budget deficit could reach $5 billion, so financial assistance from the West is needed more than ever," Shmyhal said, as per report.

He stressed that "weapons, finances, and sanctions are a triad that will help stop the aggressor and restore peace in Europe."

"Another message we are sending to the whole world is that Ukraine is ready for a diplomatic version of ending this war. But we will not give up our national interests. If Russia doesn’t want to end the war through diplomacy, we will have to end this war on the battlefield," Shmyhal said.

On February 24, Russia launched a new phase of the war against Ukraine, with the enemy carrying out massive shelling and bombardments of peaceful Ukrainian towns and villages. The whole Ukrainian nation rose up to fight the invaders. The Armed Forces and the Territorial Defense repelled the enemy's offensive and inflicted heavy losses on the invaders.