Ukraine PM Shmyhal Says Ukraine Will Need Budget Support Of About $42B This Year And Next Year; State Budget Deficit Will Be About 20% Of GDP This Year, 21% Next Year
Portfolio Pulse from Benzinga Newsdesk
Ukraine's Prime Minister, Shmyhal, announced that the country will require budget support of approximately $42 billion for this year and the next. The state budget deficit is projected to be about 20% of GDP this year and 21% next year. This announcement was made during an IMF/World Bank Aid event.
October 11, 2023 | 4:50 pm
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NEUTRAL IMPACT
The announcement of Ukraine's budget deficit and need for support may indirectly affect SPY as it tracks the S&P 500, which includes companies with exposure to Ukraine.
While SPY is not directly linked to Ukraine's economy, it does track the S&P 500 which includes companies that may have exposure to Ukraine. The announcement could potentially affect these companies, thereby indirectly impacting SPY.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 30
NEGATIVE IMPACT
VGK, an ETF that tracks European stocks, may be impacted by Ukraine's announcement due to the region's proximity and potential economic ties.
VGK tracks European stocks and given Ukraine's geographical location and potential economic ties with Europe, the announcement of Ukraine's budget deficit and need for support could have a negative impact on VGK.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60