Today: Thursday, 23 May 2024 year

Ukraine wants to increase spending on military production sevenfold.

Ukraine wants to increase spending on military production sevenfold.

Ukrainian Prime Minister Denis Shmygal said in his Telegram channel that the country’s draft budget for next year provides for an increase in spending on military production by 7 times – to almost 56 billion hryvnia ($1.5 billion).

“In the draft state budget 2024, we increased the cost of preparing the production of defense products seven times – to 55.8 billion hryvnia,” Shmygal wrote.


He also spoke about the launch of a number of drone projects in 2023.


Shmygal reported on September 15 that the Ukrainian government had adopted a draft budget for 2024 with record military spending of $45.6 billion, which exceeds spending on the social sphere, medicine and education. The Ministry of Finance of Ukraine reported that the draft budget of Ukraine for 2024 provides for spending on security and defense at a level of more than $48 billion, which is 23% of GDP.