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ukraine significantly increases security and defense budget spending

2024-09-19

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xinhua news agency, kiev, september 18 (reporter li dongxu) the official website of the ukrainian ministry of finance announced on the 18th that the ukrainian verkhovna rada (parliament) passed a budget amendment on the same day, adding 495.3 billion hryvnias (1 us dollar is approximately 41.4 hryvnias) for national security and defense spending.

ukrainian mp yaroslav zheleznyak posted on social media that the budget amendment bill received 298 votes in favor, exceeding the minimum number of 226 votes required for the bill to pass, which means that ukraine's budget spending on national security and defense this year will reach 3.73 trillion hryvnia, a record high.

the ukrainian ministry of defense published the details of the budget amendment draft on its official website on july 19. the ukrainian ministry of defense said that about 373.7 billion hryvnias of the additional funds will be directly allocated to the ministry of defense, of which 269.5 billion hryvnias will be used to pay allowances to soldiers and one-time financial assistance to disabled soldiers. more than 47 billion hryvnias will be used to purchase and upgrade military equipment, 40 billion hryvnias will be used to strengthen fortifications, 4.7 billion hryvnias will be used to strengthen logistics, and 8.9 billion hryvnias will be allocated to the state special transport bureau under the ukrainian ministry of defense.

according to the 2023 national budget implementation report released by the ukrainian ministry of finance in april this year, ukraine's national security and defense expenditure in 2023 will be 2.65 trillion hryvnias, accounting for 40.5% of its gdp. (end)