Serhiy Marchenko – Minister of Finance of Ukraine: Complete Biography and Professional Path

Since the beginning of the full-scale invasion, the Ministry of Finance of Ukraine has been among the key government bodies, as it ensures funding for the defense sector, social payments, the operation of state institutions, and the fulfillment of international financial obligations.

Over the years, Serhiy Marchenko has become one of Ukraine’s main negotiators with the International Monetary Fund, the World Bank, the European Union, and international financial organizations. The Ministry of Finance coordinates the inflow of billions of dollars in international aid necessary for the economy to function during the war.

On July 16, 2026, the Verkhovna Rada approved the new Cabinet of Ministers, in which Serhiy Marchenko retained his position as Minister of Finance. He became one of the few government officials to continue working without a change in portfolio.

Origins and Education

Serhiy Mykhailovych Marchenko was born on January 24, 1981, in the city of Makariv (Kyiv region). He received his secondary education at Makariv Secondary School No. 1 and higher education at the Academy of the State Tax Service of Ukraine in Irpin, where he studied "Public Finance Management." In 2002, he earned a master’s degree in public finance management, and in 2009 he obtained a PhD in economics. He is fluent in English.

He also studied at the Academy of International Cooperation in Germany in a program for senior executives, at Harvard Kennedy School in the USA, at the University of Warsaw in Poland, and at the Korea International Cooperation Agency (KOICA) in the Republic of Korea.

In 2011, he completed a Management and Leadership program at Harvard Kennedy School.

The financial sector became the foundation of his professional activity. From the first years of his career, he chose public service, focusing on budget planning and financial policy.

First Steps in Public Service

Serhiy Marchenko’s career began in the financial sector of public administration. Since 2002, he worked in various positions at the Ministry of Finance of Ukraine, gradually advancing from specialist to leadership roles.

Later, he also worked at the State Tax Administration, the Committee on Finance and Banking, and the Secretariat of the Cabinet of Ministers of Ukraine.

Since 2011, he worked at the Coordination Center for Reform Implementation under the President of Ukraine. He participated in the development of the Budget Code of Ukraine, adopted in 2014, which introduced fiscal decentralization reform. He coordinated the drafting of a package of bills regarding changes in the financing system and autonomy of healthcare institutions.

Subsequently, he worked as an expert at the Bendukidze Free Market Center and was the academic director of the joint KSE and GIZ program in 2015-2016 "Leadership in Public Finance."

Work at the Ministry of Finance

Serhiy Marchenko’s professional career at the Ministry of Finance began in 2002. He started working in various departments dealing with budget policy and public finance.

Over the following years, he gradually advanced from chief specialist to head of key areas, responsible for preparing the state budget, interbudgetary relations, and reforming the budget system.

In 2016, Serhiy Marchenko was appointed First Deputy Minister of Finance of Ukraine. He coordinated the budget process, prepared the state budget, worked on public finance reform, and cooperated with international financial organizations. He held this position until July 26, 2018.

Deputy Head of the Presidential Administration of Ukraine

From August 31, 2018, to May 19, 2019, Serhiy Marchenko served as Deputy Head of the Presidential Administration of Ukraine. He was responsible for the economic direction, budget policy, and interaction with the Presidential Administration regarding financial reforms.

Leadership of the Ministry of Finance of Ukraine

On March 30, 2020, the Verkhovna Rada appointed Serhiy Marchenko as Minister of Finance of Ukraine. He served during the pandemic and later during the full-scale war. The Ministry of Finance ensured funding for the security and defense sector, social payments, maintained the stability of public finances, and coordinated international financial assistance to Ukraine.

In 2023, Serhiy Marchenko chaired the Boards of Governors of the World Bank and the International Monetary Fund. For the first time in over 30 years of Ukraine’s membership in these international financial institutions, a Ukrainian representative was unanimously elected to this position by all member countries.

Since January 26, 2023, he has been co-chair of the Ukrainian Donor Platform.

On July 16, 2025, the Verkhovna Rada voted for the resignation of Prime Minister Denys Shmyhal. By the president’s submission, the new government team was headed by Yulia Svyrydenko. At the same time, the updated Cabinet of Ministers was approved, in which Serhiy Marchenko retained the position of Minister of Finance of Ukraine.

Reappointment in the New Government Composition

After the Cabinet of Ministers was updated in July 2026, Serhiy Marchenko again headed the Ministry of Finance. On July 16, the Verkhovna Rada approved the new government composition, keeping him as minister.

Marchenko continues to be responsible for forming budget policy, financing the security and defense sector, social expenditures, coordinating international financial aid, and ensuring Ukraine’s macro-financial stability during the war.

Serhiy Marchenko’s career is almost entirely connected with the field of public finance. Having progressed from a Ministry of Finance specialist to its head, he has become one of the key government officials responsible for the country’s budget policy.

During the full-scale war, under his leadership, the Ministry of Finance ensures funding for the defense sector, social expenditures, and coordinates Ukraine’s cooperation with the IMF, World Bank, European Union, and other international partners. His reappointment in 2026 demonstrates continued trust in him as a leader responsible for the state’s financial stability during wartime.

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