Up to 60% of state budget expenditures are spent on defense - Shmyhal
Kyiv • UNN
The Prime Minister said that defense spending accounts for up to 60% of the general fund of the state budget. Ukraine has received $24.5 billion in external financing, with a yearly requirement of $38 billion.
Defense spending accounts for up to 60% of the total expenditures of the general fund of the state budget of Ukraine. This was stated by Prime Minister Denys Shmyhal during an hour of questions to the government in the Verkhovna Rada, UNN reports .
Shmyhal said that Ukraine has received $24.5 billion in external financing this year. The main donors: The European Union, the United States, the IMF, Japan, Canada and the United Kingdom.
External financing needs for this year are about $38 billion in total. We have an understanding of how they will be covered. USD 5.4 billion from the IMF, we are close to the fifth revision of the cooperation program, and the mission is currently underway in Ukraine, in Kyiv. 16 billion euros under the Ukraine Facility program, we are clearly fulfilling all the indicators, we expect that the tranches will be disbursed as expected, we need your support in implementing the directives of European legislation, as well as our Ukrainian legislation, which is included in this program as certain benchmarks. Almost 7.8 billion dollars from the United States, here we also have a clear interaction with our partners, we also have a commitment to work and receive these funds together with them in the field of reforms
He reminded that there is a political decision of the G7 countries to send Ukraine $50 billion from the proceeds of frozen Russian assets.
This resource should come to Ukraine no later than the end of this year. These are the funds to cover the budget deficit in the 25th year, these are also the funds to restore and maintain our defense potential
According to him, they restructured the external debt and thus saved $11.4 billion for three years.
We finance the army exclusively from our internal sources. Defense expenditures account for up to 60 percent of the total expenditures of the general fund of the state budget. Now we need to find funds domestically to cover the deficit and ensure that our defense forces have everything they need
Prime Minister Shmyhal noted that Ukraine now has a critical need to raise additional funds for defense, for defense capability.
