Ukraine boosts 2024 defense budget by $12 billion amid ongoing war
Tax increases and internal borrowing will cover this previously unfunded deficit to sustain defense spending until the end of the year.
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Ukrainian budget
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Ukrainian government approves 2025 state budget draft
The total revenues will increase to $48 billion and total expenses will slightly increase to $87 billion. Defense budget will be $54 billion.
Ukrainian military faces $12 billion budget shortfall for 2024
Tax increases and internal borrowing are expected to cover the sum.
IMF: Ukraine needs $ 42 bn budgetary support in 2024 amid Russian invasion
IMF Managing Director Kristalina Georgieva ensured that “these needs would be met,” referring to the countries that stepped up to assist Ukraine.
Ukraine’s government will cut payments to internally displaced people from war zones
Ukraine counts 4.9 people who relocated within the country due to the war. 2.5 million receive social assistance, but this year, the total spending will be reduced by 30%.
Budget committee: Ukraine counts on financial aid from EU, US but prepares for delay
Roksolana Pidlasa, MP and head of the budget committee of the Ukrainian Parliament, said the country counts on financial aid from partner countries but is already preparing for the challenging first quarter of 2024 due to delays.
Ukraine’s budget allocates over $2 billion for arms production in 2024
The 2024 state budget of Ukraine provides $1,2 billion for the production of unmanned aerial vehicles and another $1,2 billion for the production of ammunition and weapons.
Ukraine squeezes every last drop for defense in 2024 budget, Russia still 2.5x more
Ukraine is funneling 81% of all tax income to defense in 2024, still counting on $29 bn in aid from partners as Russia boosts military spending
Russia plans 68% increase in 2024 military spending, surpassing Ukraine’s defense budget 2.5 times
Ukraine will also increase military spending by 17% in 2024, allocating almost all available money for defense.