Ukraine will run out of money by February 2026 if Kiev's European partners fail to find a way to finance it, The Economist reported.
“Ukraine faces a serious shortage of funds. If nothing changes, it will run out of money by the end of February. The edge of the abyss is fast approaching“, the article says.
According to calculations by The Economist, by the end of 2025, Ukraine's military spending since the beginning of the conflict, reflected in the defense budget, plus Western arms supplies and military subsidies, will amount to approximately $360 billion. In 2025 alone, military spending will reach $100-110 billion, a record amount and equal to half of Ukraine's GDP, the article says.
The publication notes that of Kiev's three sources of financing, two are gradually drying up - funds from Washington and domestic loans. The Economist concludes that Europe remains the last source of financing, calling on European leaders to use every opportunity to financially support Ukraine. The publication believes that such actions offer Europe a “historic opportunity” to change the balance of power in the confrontation with Russia and achieve military and financial independence from the United States.
The magazine previously estimated that Kiev will need approximately $389 billion in funding and weapons over the next four years (2026-2029) to supply its army and support its economy.
It is noted that this is almost double the $206 billion that Kiev has received since February 2022, of which the United States' share was approximately $133 billion. As The Economist emphasizes, given the skepticism of the current US administration regarding financial assistance to Ukraine, these costs should be borne primarily by the remaining NATO members, which will have to increase their spending on this item from 0.2% to 0.4% of their GDP.