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Ukraine to increase its defense budget by more than 10 billion euros

Daniel Stewart

2022-10-27
Ukrainian
Ukrainian soldier in Kiev – —/Ukrinform/dpa

Ukrainian President Volodimir Zelenski signed on Thursday an amendment to the budget for next year under which he will increase defense spending by more than 10 billion euros.

Thus, the Ministry of Defense will receive most of the increase, while the remaining percentage will be divided among other security agencies of the country.

According to official figures, military spending in Ukraine has increased tenfold as a result of the war in the country, initiated by Russia at the end of February.

«To cover the additional expenses of the general state budget, the internal debt has been increased,» the parliamentary administration in the capital, Kiev, has noted.

Last July, Prime Minister Denis Shmigal put the monthly defense expenditure at more than 3.5 billion euros, despite the fact that the country has received military equipment and supplies costing millions of euros.

To date, the Ukrainian government has budgeted around 30 billion euros for defense spending in next year’s general budget.

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