Ukraine's parliament approves state budget for 2025
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Ukraine's parliament has approved the country's state budget for 2025, Prime Minister Denys Shmyhal said on Nov. 19.
"All taxes of citizens and businesses next year will be directed to the defense and security of our country," he said in a post on Telegram.
"In conditions of limited resources, this budget clearly defines priorities. Defense, security, support of people, development and restoration of the country. These are all things that make us stronger and lead to victory."
The Cabinet of Ministers of Ukraine approved the draft state budget for 2025 on Sept. 13. The state expects to get Hr 2 trillion ($48.2 billion) in revenues, while expenditures are planned at Hr 3.6 trillion ($86.8 billion).
The budget for 2025 envisages spending Hr 2.2 trillion ($53 billion) on Ukraine's defense, which is 26.3% of the country's projected gross domestic product (GDP).
On Nov. 12, Strategic Industries Minister Herman Smetanin said the budget envisages Hr 55 billion ($1.3 billion) for weapons production.
Ukraine began actively developing its defense production after Russia's full-scale invasion in February 2022.
Some Hr 54.55 billion ($1.3 billion) will be directly allocated for the development and implementation of new technologies, and the expansion of defense production capacity, according to Smetanin.
The minister added that the 2025 figure is almost Hr 3.5 billion ($84.4 million) more than in 2024.
