(Reuters) – Ukrainian lawmakers passed the first stage of discussions over the 2025 budget on Thursday, with around 26% of GDP allocated for defence as the country struggles to fend off the Russian offensive.
The draft budget provides for 2.2 trillion hryvnias ($53.38 billion) for national security and defence spending, the finance ministry said, a 46 billion hryvnia increase compared with this year.
“Security and defence remain the budget priority for next year. All taxes paid by people and businesses will be used to strengthen our defenders and military capabilities,” Prime Minister Denys Shmyhal said on Telegram messenger.
Total budget revenue is expected at 2.7 trillion hryvnias, the ministry said, while expenditure stands at 3.6 trillion.
Parliamentarians, who will debate the bill through several more readings before it is approved no later than Dec. 1, suggested 2,099 amendments to the draft, the ministry said.
Opposition lawmakers, representing a minority of lawmakers in parliament, criticised the draft saying it did not suit country in war.
“This is a document that has nothing to do with the budget of wartime country,” Dmytro Razumkov, a lawmaker and former chairman of the parliament, said on Telegram.
Lawmakers from ex-president’s Petro Poroshenko party echoed his comments, calling for increases in social payments and more money to be spent on the military.
As Kyiv spends its revenue on defence and military projects, it relies heavily on financial aid from allies to for cover social spending.
Ukraine needs to get $38.4 billion in foreign financial aid for 2025, according to officials.
($1 = 41.2111 hryvnias)
(Reporting by Yuliia Dysa; Editing by Alison Williams)
Comments