half of kyiv’s 2024 budget devoted to defense and security

Nearly half of budget spending in Ukraine will be devoted in 2024 to defense and security, according to the bill voted on Thursday, November 9 by Parliament, summarized by a post on the Facebook profile of the President of the Ukrainian Parliament. Almost two years after the Russian invasion, Kiev’s defense and security spending will reach almost 1,700 billion hryvnias (43.9 billion euros) next year, or 22.1% of GDP, according to the ministry. finances. A figure higher than the budget reserved for education, health and social benefits.

The vote comes at a time when Kiev fears that its allies will become tired and that their support, financial and military, will dwindle after the failure of its counter-offensive launched in June. Ukraine has thus specified that next year it will need 41 billion dollars (the equivalent of 38 billion euros) in external financing from its allies and international organizations to make its economy function. This is approximately the same amount as that mentioned in 2023, within a billion dollars.