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Marchenko Sergii

Marchenko Sergii

1981 — born in the village of Makariv in the Kyiv region.
2002 — graduated from the Academy of the State Tax Service in Irpin, obtaining a Master’s degree in Public Finance Management.
2002–2011 — Held various positions at the Ministry of Finance, the State Fiscal Service, the Finance Committee of the Verkhovna Rada and the Secretariat of the Cabinet of Ministers.
2011–2016 — Worked at the Coordination Centre for Reform Implementation under the President, where he was directly involved in drafting the 2014 Budget Code of Ukraine (which launched financial decentralisation). He served as an expert at the Bendukidze Free Market Centre and lectured at the Kyiv School of Economics (KSE).
2016–2019 — Deputy Minister of Finance (oversaw humanitarian and social policy), and subsequently Deputy Head of the Presidential Administration of Ukraine (under Petro Poroshenko).

Position: Minister of Finance since 30 March 2020

Official profiles/sources:

Ministry of Finance official website: https://www.mof.gov.ua/uk/
Government Bond Department page: https://mof.gov.ua/uk/ovdp
Facebook: Ministry of Finance https://www.facebook.com/minfin.gov.ua
Facebook: personal page https://www.facebook.com/sergey.marchenko.54/

Latest news:

Impact:

Serhiy Marchenko is one of the longest-serving figures in the Ukrainian government. He is regarded as a technocrat whose influence is underpinned by the high level of trust he enjoys from Western donors. His presence ensures that Ukraine meets its financial obligations to the IMF, enabling the country to maintain macroeconomic stability during one of the most challenging periods in its history.
In 2023, he became the first Ukrainian in history to chair the Boards of Governors of the World Bank and the International Monetary Fund (IMF).

Key responsibilities and powers:

The most challenging and, at the same time, most successful stage of Marchenko’s career was maintaining Ukraine’s financial system amidst a full-scale war with Russia.

The minister’s key task is not so much the collection of taxes within the country (as all of Ukraine’s domestic revenue is directed exclusively towards funding the defence sector and the Armed Forces of Ukraine), but rather the attraction of tens of billions of dollars in grants and concessional loans from international partners (the EU, the US, the IMF) to cover social and humanitarian expenditure.

The minister’s responsibilities:

drafting the state budget,
expenditure control,
redistribution of funds,
tax and customs policy issues,
managing international borrowing and public debt.

Positions

Serhiy Marchenko consistently advocates that, during wartime, the state must strictly limit non-essential expenditure.
He has repeatedly criticised local authorities for excessive spending on urban improvements.
His influence lies in establishing a strict set of three budget priorities: first, defence and security; second, social spending (pensions); and only lastly, everything else.

FAQ

Who is Serhiy Marchenko?

Serhiy Mykhailovych Marchenko is the Minister of Finance of Ukraine. He is an economist, holds a PhD in Economics, and served as Deputy Minister of Finance of Ukraine (2016–2018) and Deputy Head of the Presidential Administration of Ukraine (2018–2019).

What is his background?

A Ukrainian economist and statesman who has held the post of Minister of Finance of Ukraine since March 2020. He has overseen the country’s public finances during the most challenging period in its history, securing over $173 billion in international aid.

Who is his family?

He is married to Marina Marchenko. She is the head of the well-known non-governmental organisation ‘Lada’, which supports motherhood. The couple have three children.