Ukraine to spend half of 2024 budget on defense, prime minister claims

byOlena Mukhina

09/11/2023

1 minute read

The Verkhovna Rada, Ukraine’s parliament. Credit: Getty Images

Ukraine to spend half of 2024 budget on defense, prime minister claims

Ukraine’s parliament has approved a state budget for 2024 with half of all state spending to go on defense as Kyiv continues to repel Russia’s military aggression.

Budget revenues are set at $48.4 billion while budget deficit is planned at $43.58 billion next year, said Ukrainian deputy Yaroslav Zhelezniak.

“Practically 50% of our spending – for defense and security of Ukraine. There will be more weapons and vehicles, more drones, ammunition and missiles. Every hryvnia from a taxpayer will go to the army,” said Ukrainian Prime Minister Denys Shmyhal.

Ukraine’s government also plans to increase minimum wages, pensions and spend more on education and health sectors to help citizens cope with the rising cost of living during the war, added Shmyhal.

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