Ukraine spends all taxes on the army: who finances the social sector and business.

Where tax money is spent in Ukraine

Tax money in Ukraine is used exclusively for defense needs. Other sectors are financed by our partners, as stated by the head of the Committee of the Verkhovna Rada of Ukraine on finance, tax and customs policy, Danilo Hetmantsev, in an interview on Vechir.LIVE.

'Everything we earn in taxes in Ukraine, we spend on the army. We do not even have enough for this, we are supplementing through military bonds. We do not finance a single penny for non-military expenses of the state budget'

, he assured Hetmantsev.

According to him, our partners, particularly the Ukraine Facility Plan—the program of financial support for Ukraine from the European Union—finance other sectors.

'These are the funds we receive on preferential loan terms. And with this money, we finance all non-military expenses. [...] This includes the social sector, help for business, and maintaining the state apparatus'

, explained the MP.

According to Hetmantsev, financing has been approved this year for a total of 54 billion dollars, of which 24 billion have already been received, but there is still a need for 39.3 billion.

Also, the consideration of a draft law on cryptocurrency aimed at protecting the market, exchanges, and individuals has been announced in the Verkhovna Rada. The meeting is planned for August. In addition, the possibility of increasing the one-time payment for childbirth to 50,000 hryvnias has been proposed by the previous government.

Taxes in Ukraine are used exclusively for defense needs, while other needs are financed by partners, including the financial support program from the European Union. People's Deputy Danilo Hetmantsev explained that the state budget is financed exclusively from earned taxes, which are spent on the army. Meanwhile, the accrued amount is still insufficient, and the country purchases military bonds for additional resources. Alternative funding sources are used for other needs, such as social payments, business support, and maintaining the state apparatus. Currently, financing for a sum of 54 billion dollars has been approved, but there is still a need for 39.3 billion. There are also plans to consider a draft law on cryptocurrencies and the possibility of increasing the one-time payment for childbirth.