Ukraine faces budget cut without $5 billion in monthly external aid - parliamentarian

FILE PHOTO: A view of a shopping mall damaged by a Russian missile strike, as Russia's attack on Ukraine continues, in Kharkiv, Ukraine June 8, 2022. REUTERS/Ivan Alvarado/File Photo

KYIV (Reuters) - Ukraine's budget revenues cover less than half of expenditures following Russia's invasion, and Kyiv will have to cut budget spending sharply if more external financial assistance does not arrive, the head of parliament's financial committee said.

"We have to borrow $5 billion monthly. If we do not get it, we will have to cut spending," Danylo Hetmantsev told local television on Tuesday.