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PM Shmyhal: Ukraine to spend $48 billion on armed forces in 2023

by Dinara Khalilova August 3, 2023 10:34 PM 1 min read
Denys Shmyhal, Ukraine's prime minister, speaks during a news conference at the Ukraine Recovery Conference in London, UK, on Thursday, June 22, 2023. (Chris J. Ratcliffe/Bloomberg via Getty Images)
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Ukraine will spend Hr 1.8 trillion (about $48 billion) from the state budget on the defense and security forces in 2023, Prime Minister Denys Shmyhal said on Aug. 3.

Shmyhal added that for humanitarian and social payments, Kyiv received assistance from international partners. Ukraine has obtained $28 billion of such funds this year and $31 billion in 2022.

"It is essential that Ukraine maintains macro-financial stability. This gives us a base for rapid recovery after the war's end and an opportunity to replenish the budget to support the Armed Forces," the prime minister said.

According to Shmyhal, Ukraine lost about 30% of its economy and 3.5 million jobs in the first year of Russia's full-scale war.

"But the losses to the economy were less than predicted. The business has adapted and continues to do so. It needs our help. This year, we expect even a slight increase," he added.

President Volodymyr Zelensky earlier said that Kyiv had allocated more than $32 billion to defense in 2022.

Endless Russian assaults near Kreminna test Ukraine’s defenses
Editor’s note: The Kyiv Independent is not disclosing the full names or deployed positions of the Ukrainian soldiers interviewed in the story due to security concerns amid the ongoing war. Donetsk Oblast – The narrow, partly destroyed road through the Serebrianskyi Forest in the northern part of Do…
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