Ukraine will spend almost half of its state budget on defense and security next year. Parliament approved a corresponding bill yesterday. According to the Ukrainian Ministry of Finance, the equivalent of around 44 billion euros will be allocated to defense next year, a similar amount to the current year.
The amount planned for defense and security for 2024 is higher than spending on education, social services and health combined and represents almost half of the total spending planned in the country attacked by Russia in February last year.
“There will be even more weapons and equipment, more drones, ammunition and rockets,” Prime Minister Denis Schmyhal said after the vote. “All our internal resources will be used to resist and defeat the enemy,” he said on Telegram.
The vote came at a time when the Kiev government fears a decline in financial and military support from its allies. According to Ukrainian information, the equivalent of around 38 billion euros in external support will be needed next year to cover current expenses. This approximately corresponds to the amount estimated by the International Monetary Fund (IMF) that will be needed for the current year.