EXPLAINER: Can Ukraine pay for war without wrecking economy?

FRANKFURT, Germany (AP) — Ukraine has won victories on the battlefield against Russia but faces a looming challenge on the economic front. The government has been relying on the central bank to print money to cover its huge deficits caused by the war. Tax revenue has fallen, and defense spending has soared for next year’s budget. Kyiv is looking for ways to pay for its war effort at least through next year. By then, hopes are that a price cap on Russian oil sales will put Moscow on the economic defensive. Until then, Ukraine is turning to its allies for more money to avoid worsening inflation that hurts ordinary people.