Ukraine Spending Over $3 Billion a Month on Military

Ukraine’s Finance Minister Sergey Marchenko disclosed in a meeting with the European Business Association (EBA) that Ukraine is spending $3.5 billion a month on its military.

Ukraine also receives almost $2.2 billion a month in revenue.

It was reported that Marchenko told the EBA, “The key task is to create conditions for financing the military.”

Reporting from RT:

Last week, the Ukrainian Parliament, the Verkhovnaya Rada, adopted a law on increasing budget spending on defense by more than $14.6 billion. Ukraine’s Prime Minister Denis Shmygal had previously specified that the Cabinet of Ministers proposed to allocate additional funds for payments to the military, as well as the purchase of military and special equipment.

According to him, the money will be allocated through the support of Western partners. While approving the 2023 draft budget last November, the parliament set aside more than a trillion hryvnias ($31 billion) for the armed forces and national security, which is 43% of all spending, or 18.2% of the country’s GDP.