Ukrainian parliament to soon increase defence spending by 300 billion
The Verkhovna Rada (Ukrainian parliament) will consider the draft law proposed by the government to increase defence spending by almost UAH 303 billion [US$8.24 billion – ed.] by the end of September.
Source: Roksolana Pidlasa, Chairman of the Budget Committee of the Ukrainian Parliament, in a comment to Ekonomichna Pravda.
According to the government draft law, in 2023 it is planned to increase expenditures for the following bodies:
- The Armed Forces of Ukraine – by UAH 195.7 billion [about US$5.32 billion – ed.];
- National Guard of Ukraine – by UAH 39.7 billion [about US$1.08 billion – ed.];
- State Border Guard Service – by UAH 20.4 billion [about US$0.55 billion – ed.];
- expenditure on the purchase and modernisation of military equipment for the Armed Forces – by UAH 13.2 billion [about US$0.36 billion – ed.].
Pidlasa expressed confidence that the parliament will support the increase in spending, as the government and the Verkhovna Rada always promptly respond to requests from the military.
"As for the sources of coverage, we will have to borrow most of the necessary funds – almost UAH 299 billion [about US$8.13 billion – ed.], of which about UAH 208 billion [about US$5.65 billion – ed.] is in the domestic market, part of the funds will come from the overpayment of non-tax revenues," Pidlasa explained.
The draft law also proposes to increase expenditures on support of internally displaced persons by UAH 16.5 billion [about US$0.45 billion – ed.] by the end of 2023 and to direct UAH 1.2 billion [about US$36.2 million – ed.] to the Ministry of Foreign Affairs.
Funds from the grant from the European Union in the amount of almost UAH 6 billion [about US$0.16 – ed.] will be directed to the so-called quick recovery – the repair of damaged and destroyed facilities.
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