The Ukrainian Finance Ministry will allocate about UAH 22 billion from the budget for the country’s defense needs, Finance Minister Serhii Marchenko has said.
He stated this during a question-and-answer session in the Verkhovna Rada on Friday, February 18, according to an Ukrinform correspondent.
“In pursuance of a presidential decree, the salaries of the military will now be significantly increased – by 30%. The prime minister and defense minister stated this in their report. […] Now the bills are being finalized in the budget committee. This could be up to UAH 20 billion in the sector of the Ministry of Defense. In addition, separate expenditures are also envisaged for the formation of territorial defense and other needs of the Ministry of Defense, for the purchase of the necessary equipment. That’s up to UAH 2 billion. So we have these funds, and we’re discussing in the budget committee about when these bills could be voted on,” Marchenko said.
A record amount of funds is to be allocated for Ukraine’s security and defense sector in 2022 – 5.95% of GDP. In particular, funding for armaments and military equipment development programs, financial support for servicemen, and the construction of housing for the military has been significantly increased.