Metallurgy shutdown could cost budget up to UAH 40 billion

Financial risks for the treasury

Ukraine's metallurgical sector faces a potential threat of significant financial losses. According to estimates by Ukrmetallurgprom, halting the operations of the mining and metallurgical complex (MMC) could result in the state budget losing between 30 and 40 billion hryvnias.

Scale of the problem

For context: as of the end of September 2026, the general fund of the state budget has already fallen short by 49.5 billion hryvnias. This means that potential losses from the metallurgy standstill account for approximately 61–81% of the current revenue deficit.

Experts note that these figures cannot simply be added mechanically, as part of the negative impact from strikes on industry may already have been reflected in the deterioration of financial results in August and September.

Tax contribution of the sector

The risk is critical given the significant tax weight of the metallurgical sector. For example, Rinat Akhmetov's Metinvest company paid 18.7 billion hryvnias in taxes in 2025 and another 8.5 billion hryvnias in the first half of 2026.

Impact on exports

It was previously reported that the shutdown of metallurgical enterprises could cost Ukraine $5 billion in export revenue.