Ukraine Approves 2025 Budget with Major Defence Spending Focus

Ukraine's government has approved the draft budget for 2025, emphasizing defence spending amidst ongoing conflict with Russia. The budget outlines revenues of 2 trillion hryvnias and expenditures of 3.6 trillion hryvnias, including over 2.22 trillion hryvnias allocated for defence. This budget also addresses social security, health care, and local authority support.

Ukraine's government has given the green light to the 2025 draft budget, which prioritizes defence spending as a response to the ongoing Russian invasion, Prime Minister Denys Shmyhal reported on Friday.

According to Shmyhal's post on Telegram, the draft budget, set to be presented to parliament, forecasts revenues of 2 trillion hryvnias ($48.2 billion) and expenditures of 3.6 trillion hryvnias. Notably, it features 2.22 trillion hryvnias ($53.5 billion) earmarked for defence.

Shmyhal emphasized that the budget drafting process, despite numerous challenges, underscores a clear priority: the nation's defence and security. The budget also allocates substantial funds for social security, health care, and local government support, while also focusing on transparent capital expenditure and energy sector rebuilding efforts.

(With inputs from agencies.)