The Cabinet of Ministers of Ukraine is preparing to submit to the Verkhovna Rada amendments to the state budget for approximately UAH 400 billion. These expenses will be covered by overperformance of tax and customs revenues, domestic government bonds, as well as grants from partners. There will be no interruptions in the provision of military personnel. This was stated by People's Deputy, Head of the Committee of the Verkhovna Rada of Ukraine on Budget Issues, Roksolana Pidlasa, reports UNN with reference to the Verkhovna Rada.
Details
Pidlasa noted that the Ministry of Defense is promptly responding to changes on the battlefield and to changes in the supply of weapons from international partners.
When there is a pause in supply, the government promptly seeks funds for procurement to ensure that our troops are constantly provided with everything they need.
In the first half of this year, weapons and ammunition were contracted for more than UAH 300 billion. Now the government and parliament must promptly amend the state budget so that the need to provide military personnel and future arms purchases is fully covered. I would say that this situation is planned, and by the end of August, the budget changes will be approved and signed by the President, so there will be no interruptions in the provision of military personnel, as they were not in previous years," - Pidlasa said.
According to her, there is no talk of raising taxes at all now. All needs will be covered from several different sources.
Needs will be covered by overperformance of tax and customs revenues. For example, in five months, the tax and customs authorities showed a good result - together they exceeded the planned revenues by UAH 41 billion. All overperformance will be used for defense needs," - Pidlasa said.
These are so far the only funds from international partners that can be used for defense needs. We are talking about about UAH 82 billion this year. In addition, it is planned to increase the plan for domestic borrowing, the so-called domestic government bonds. There is room for some increase in borrowing here," - Pidlasa emphasized.
Context
On June 5, Minister of Finance Marchenko stated that the financing of the Armed Forces of Ukraine is currently insufficient, so the Ministry of Finance is preparing to revise the state budget for 2025. At the same time, a plan is being prepared in case of prolonged hostilities in 2026.
The National Bank is convinced that there will be no need or grounds for opening an emission channel. There is an understanding of how to act when there is a need to cover the state budget deficit, effectively and safely for macroeconomic stability.
On June 6, Prime Minister Denys Shmyhal reported that if there is a need to increase spending on financing the Armed Forces in the second half of the year, the government will appeal to the Verkhovna Rada.
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