Ukraine spends over $150 billion on military needs, but it's not enough — Defense Ministry

MOSCOW:  Ukraine's military spending has exceeded $150 billion, but this amount is not enough for Kiev, the country's Defense Minist...

MOSCOW:  Ukraine's military spending has exceeded $150 billion, but this amount is not enough for Kiev, the country's Defense Minister Rustem Umerov said.

"We spend $150 plus billion, which comes from partners and from our budget. We need more money, then our capabilities will grow very strongly. We will need investments," he said in an interview with the Ukrainian TV channel Rada.

The minister did not specify for what period exactly the specified amount was spent.

Earlier, Ukrainian President Vladimir Zelensky signed a law on the allocation of an additional $12 billion for military needs in 2024.

Ukrainian Prime Minister Denis Shmygal announced that the government had approved the draft state budget for next year with a deficit of 1.6 trillion hryvnias ($38.6 billion). Revenues are expected to be 2 trillion hryvnias (about $ 48 billion), and budget expenditures are planned at 3.6 trillion hryvnias ($87 billion). The head of government noted that all domestic resources "will again be directed toward defense and security." According to him, defense spending will grow to at least 2.22 trillion hryvnias ($53.6 billion).

-News Feed