Army budget increased by almost UAH 70 billion
TUESDAY, 15 MARCH 2022, 15:58
The Ukrainian Verkhovna Rada (parliament) has increased budget revenues and expenditures by UAH 67.6 billion (equiv. USD 2.3 billion) - this sum will be spent on the purchase, modernisation and refurbishment of weapons and military equipment.
This has been stated in the documents relating to law no. 7167.
According to Yaroslav Zhelezniak, the first deputy head of the Ukrainian Parliament's tax committee, members of parliament supported the law by 342 votes.
The additional funds for the Defence Ministry came from a loan of £1.7 billion from the United Kingdom. The implementation of the bill will increase the size of the state budget deficit and the volume of the national debt. The funds will be allocated to a special state budget fund.
The law also envisions a state guarantee for National Power Company, Ukrenergo's debt repayment and limits the use of money from the road fund, which can be used primarily for government debt payments, development of the network and road maintenance. It can be used for other purposes only after all debt obligations have been met.
