All funds Ukraine earns go to defense - PM Shmyhal

All funds that Ukraine independently earns are allocated for financing defense needs as priority.

This was stated by Prime Minister Denys Shmyhal during a speech at the Yalta European Strategy event in Kyiv, Ukrinform reports with reference to the YES website.

"All funds that Ukraine earns go to the Army. Our partners provide this opportunity, as all social and budgetary payments are covered from the partners' funds. We are extremely grateful to them for this," said the prime minister of Ukraine.

Denys Shmyhal called the process of reconstruction of Ukraine a great opportunity for the country. And this process will be carried out according to the principle of "Build Back Better".

"The destruction inflicted by Russia is a terrible tragedy, but at the same time a great opportunity for our country: the opportunity to implement large business projects, large private-state partnership projects, and we are working on this, preparing our state and economy for recovery," he noted.

According to Denys Shmyhal, the source of funding for the country's recovery should be confiscated Russian assets.

"We offer a compensation mechanism, an international instrument that will provide an opportunity to obtain the funds necessary for Ukrainian recovery. The compensation mechanism will consist of three components: a compensation fund, where the assets confiscated from Russian oligarchs and Russia as an aggressor will actually go; a compensation commission, that is, an international institution that will determine how to effectively utilize the funds, where to direct them; and a verified register of losses," concluded the prime minister of Ukraine.

As reported by Ukrinform, Denys Shmyhal said investments in the military-industrial complex made by the government can be estimated at tens of billions of hryvnias.