Ukraine will increase its military spending by the equivalent of around ten billion euros by the end of the year. President Volodimir Zelensky signed a corresponding change in the state budget on Thursday. According to the new budget, additional expenditure of 386.9 billion hryvnia (almost 10.5 billion euros) is planned by the end of the year. The Ministry of Defense will receive the lion’s share (almost ten billion euros). The rest will be divided among the other security bodies.
“In order to cover the additional expenditure from the general state budget, the domestic debt was increased and the maximum amount of state debt was raised accordingly as of December 31, 2022,” said the parliamentary administration in Kyiv. As a result of the Russian war of aggression, Ukrainian defense spending has increased tenfold, according to official figures.
In July, Prime Minister Denys Shmyhal put monthly spending at 130 billion hryvnia (3.5 billion euros). In addition, Kyiv receives arms aid from the West in the billions. So far, the state has budgeted the equivalent of around 30 billion euros for the coming year.