Ukraine proposes record defence spending next year as war costs soar
The plan sets aside 67.2% of general spending for defense as war costs rise and Ukraine seeks more foreign financing.
- On Wednesday, Ukraine's government presented a 7.27 trillion-hryvnia draft 2027 budget to parliament, with Finance Minister Sergii Marchenko allocating 4.89 trillion hryvnias to defence—record spending 12% higher than this year.
- Escalating war costs prompted the increase, with daily spending rising to $190 million this year compared with $116 million in 2022. Roksolana Pidlasa, head of the parliamentary budget committee, noted state revenues are failing to keep pace.
- Ukraine requires more than $52 billion in international financial aid next year to bridge the funding gap. Marchenko confirmed the government secured around $20 billion in commitments, building on $198 billion in total fiscal aid received since the invasion.
- Parliament advanced essential tax and customs reforms on Wednesday, meeting key conditions to unlock International Monetary Fund and European Union funds. Lawmakers must pass the final spending plan in three readings by December 1, 2026.
- Marchenko suggested that frozen Russian assets held by European allies could help cover the budget gap, as officials explore alternative revenue streams to mitigate rising defence costs on the national treasury.
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107 Articles
Ukraine has witnessed massive Russian rocket and motor vehicle attacks that have affected infrastructure, in conjunction with its intention to allocate standard defence spending for 2027 that drains two thirds of its budget to cope with the consequences of the ongoing war with Russia.
The Ukrainian government adopted the budget for 2027, with an external funding requirement of $52.6 billion and military spending at a record level, more than four years after the beginning of the Russian invasion, reports AFP.
The Ukrainian government plans to allocate up to two-thirds of its total national budget to defense by 2027, amidst the protracted war with Russia that has lasted more than four and a half years.
The Ukrainian government adopted the budget for 2027 on Thursday, which requires an external funding of 45.8 billion euros and includes record military spending, more than four and a half years since the beginning of the war launched by Russia. "It is planned to mobilise funds from the European Union, from the G7 countries, from ...
The main spending area is defence and security with €95.9 billion planned in 2027, which represents 43.8% of Ukraine's GDP, a record share since the beginning of the war and the highest in the world.
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