The War Costs Ukraine 172 Million Dollars a Day: How Defense is Funded.

According to inkorr.com: In Ukraine, military spending accounts for 31% of the gross domestic product, which is the highest rate in the world. This was stated by MPs’ committee head Roksolana Pidlasa.

Increase in War Spending

The costs of waging war have significantly increased: last year, one day cost the state 140 million dollars, but now this amount has reached 172 million dollars per day. To cover the budget deficit for the next year, the government estimates that an additional 16 billion euros will be needed.

'According to our estimates, based on the Ministry of Defense, the needs for ensuring Ukraine's defense amount to 120 billion dollars a year. Of this, 60 billion dollars should be covered by the state budget, that is, essentially our taxes, fees, and internal borrowings, while 60 billion dollars will be, at least, the Ministry of Defense will work to ensure that 60 billion dollars will be military assistance in kind,' stated Pidlasa.

State Budget Priorities

The main priority of the budget for the next year will be to meet defense needs, the MP confirmed. Social standards will remain at the current level, while in some cases, such as teachers’ salaries, they should increase. However, until active hostilities are completed, the state budget of Ukraine cannot be balanced and will depend on the financial support of international partners.

Record military spending highlights the critical importance of state defense in current conditions. The increase in defense spending reflects the necessity to strengthen security in Ukraine and emphasizes the importance of international assistance for restoring economic stability.