Ukraine allocating for defense UAH 1.1 tn from last year’s revenues - PM

The Cabinet of Ministers will allocate more than UAH 1.1 trillion from last year's budget revenues to the security and defense sector.

Prime Minister Denys Shmyhal stated this at a government meeting on Wednesday, an Ukrinform correspondent reports.

"We are steadily increasing our own budget revenues, primarily off custom duties and taxes. More than UAH 1.1 trillion in taxes, fees, and other payments went to the budget’s general fund last year. We allocate all these funds for security and defense. This year, we plan to spend more than UAH 750 billion on allowances to our military. More than UAH 265 billion will go for the purchase, production, and repair of weapons," the head of the Ukrainian government said.

Shmyhal emphasized the key task of increasing domestic arms production, noting that the country’s defense production capacity will triple in 2023. "The ambitious goal for this year is a four-fold increase. This means more drones, more rounds, more ammunition and armored vehicles for our military," concluded the prime minister.

As Ukrinform reported earlier, in 2023, the expenditures of the state budget amounted to over UAH 4 trillion, including UAH 3.03 trillion from the general fund.