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Ukraine Allocates One-Third of Budget to Salaries and Military Maintenance: Ministry of Finance Report


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The Ministry of Finance of Ukraine Allocates One-Third of the Budget to Salaries and Military Maintenance

The Ministry of Finance of Ukraine announced today that a significant portion of the Ukrainian budget is dedicated to paying salaries and maintaining military personnel. According to the ministry, the country’s budget spending in the first half of 2023 reached approximately $44.4 billion, with $14 billion specifically allocated to the military.

Details of Ukrainian Budget Expenditures

As stated on the Ukrainian ministry’s website, total state budget expenditures from January to July of this year amounted to UAH 1,640.1 billion ($44.4 billion), with July alone accounting for UAH 231.8 billion ($6.2 billion). Of these expenditures, more than UAH 669.9 billion ($13.1 billion) were allocated to salaries and contributions, including UAH 518.8 billion ($14 billion) for the maintenance of military personnel.

It is important to note that these costs also cover medical care, social security for the Ukrainian population, and servicing the public debt.

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Increased Military Spending and Approved Budget

Roksolana Bidlasa, the head of the budget committee of the Ukrainian parliament, revealed that military spending has increased since the beginning of the year, with approximately half of the state budget in 2023 being allocated to defense.

The Ukrainian parliament approved the country’s budget for 2023, which includes a deficit of 1.296 trillion hryvnia ($35.1 billion). Prime Minister Denys Shmyhal explained that the draft state budget for 2023 forecasts revenues of 1.28 trillion hryvnias (about $34.6 billion) and expenditures of 2.57 trillion hryvnias (about $69.6 billion).

Addressing the Budget Deficit

The Ukrainian budget deficit stands at an estimated $3 billion per month, and Kyiv intends to cover it through external loans.

Source: Prime

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