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Finance Ministry: Third of state budget in 2023 used to pay soldiers

by Martin Fornusek August 16, 2023 3:02 PM 1 min read
The ceremony of raising the national flag during the celebration of the Constitution Day of Ukraine, June 28, 2023. (Photo credit: Pavlo Palamarchuk/SOPA Images/LightRocket via Getty Images)
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Around one-third of the state budget for 2023 so far – almost Hr 520 billion ($14 billion) – has been used for military personnel expenditures, Ukraine's Finance Ministry said on Aug. 16., referencing data from the State Treasury Service.

For the first seven months of 2023, the total expenditures of the state amounted to Hr 1.64 trillion ($44.4 billion), with Hr 231.8 billion ($6.3 billion) spent in July.

Other military expenses included Hr 276.9 billion ($7.5 billion) on military equipment, weapons, ammunition, and other supplies for the armed forces.

Significant portions of the budget have also been allocated to goods and services (24.8% of the total expenditures) and social support payments (18.6%).

Finance Minister Serhii Marchenko said on Aug. 9 that Ukraine is going to need at least $42 billion in foreign financial support next year due to high defense and security expenses.

According to Prime Minister Denys Shmyhal, Ukraine intends to spend Hr 1.8 trillion (about $48 billion) from the state budget on defense and security forces in 2023.

Minister: Germany plans $5.5 billion in annual military aid for Ukraine until 2027
Germany plans to provide Ukraine with 5 billion euros ($5.5 billion) in annual military aid until 2027, German Finance Minister Christian Lindner said on Aug. 14, Forbes Ukraine reported.

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