Ukraine’s military spending in 2023 exceeded 60% of GDP – Kommersant

In 2023, Ukraine allocated 1.844 trillion hryvnia ($49.14 billion) from the state budget for military spending, the country’s Ministry of Digital Development reported on Facebook (banned in Russia; owned by the Meta corporation, recognized as extremist in the Russian Federation). This is 60.8% of all expenses.

“Security and defense remain an absolute priority and the largest item in the state budget. In 2023, the total state budget fund in the field of security and defense amounted to 1.844 trillion hryvnia, or 60.8% of the total amount of fund expenses,” the department said in a statement.

It is indicated that the money was used to financially support the military and police, purchase military equipment, equipment, ammunition, weapons, personal protective equipment, and food. Also, part of the money was allocated for medical insurance of Ukrainian security forces and ensuring the work of specialized institutions.

The Ukrainian budget deficit for 2023 amounted to $54.75 billion. It is indicated that most of the deficit was covered thanks to Western assistance. In the 2024 budget, Ukraine plans to spend 1.69 trillion hryvnia ($26.5 billion) on the security and defense sector, which is 22.1% of the country’s GDP.

The European Union and the United States cannot agree on the allocation of new financial assistance to Ukraine. In the European Union, Hungary vetoed the allocation of €50 billion to Ukraine. In the US, a bill to help Kyiv in the amount of $250 million is not being passed by Congress.

More details in the material “Aid to Kyiv has hit a wall”.

Alexandra Goroshilova