Additional funds will be directed, in particular, to payments to the military, the purchase of military and special equipment, as well as equipment.
On Monday, March 13, the Cabinet of Ministers of Ukraine supported a bill to increase state budget spending by UAH 537 billion. This was announced by Prime Minister Denys Shmyhal.
So, 518 billion out of 537 billion will be directed to strengthening security and defense. In particular, the following will be funded:
payments to the military; purchase of military and special equipment, equipment.
The rest of the money will go to the reserve fund.
“This will help strengthen our defense capability and stop Russian aggression,” Denys Shmyhal said.
Meanwhile, the head of the budget committee of the Verkhovna Rada, Roksolana Pidlasa, announced where the money would come from for additional funding for the country’s security and defense:
UAH 419.3 billion – due to an increase in the state budget deficit (that is, internal and external borrowing); UAH 60.7 billion – from an increase in state budget revenues (due to an increase in income from personal income tax, VAT from manufactured goods and part of the net profit of state banks ); UAH 50.3 billion – from reducing the cost of servicing the public debt, UAH 6.9 billion – from reducing the cost of providing state guarantees.
“The Verkhovna Rada will consider this draft law without delay,” she stressed.
How much did the public debt of Ukraine grow against the backdrop of the war
As of January 31, 2023, according to data from the Ministry of Finance, Ukraine’s public debt increased by $5.06 billion and amounted to $116.44 billion.
The difference between income and expenses is financed by borrowings, which amounted to UAH 226.8 billion since the beginning of the year. At the same time, during January, the government’s currency accounts with the National Bank were replenished by $4.33 billion. Of them:
$3.2 billion from the European Union; $1 billion from the United States (money came through a World Bank trust fund).
Previously, Focus in his “Record price rise, devaluation, collapse of wages. The main figures of the Ukrainian economy-2022” spoke in detail about how Ukraine received and spent money last year.
We also recall that from the beginning of the full-scale invasion of the Russian army and until the end of 2022, the state budget of Ukraine spent UAH 2.2 trillion. At the same time, a third of the money was paid to military personnel
