Ukraine proposes spending UAH 4.89 trillion on defense in 2027 — TimesLIVE
Ukraine proposes allocating a record UAH 4.89 trillion to defense in 2027 — 12% more than this year. Such spending would account for about two-thirds of the total expenditure in the draft state budget presented to parliament, TimesLIVE reports.
Total expenditures in the draft budget for 2027 are planned at UAH 7.27 trillion, while revenues are projected at UAH 5.6 trillion. Roksolana Pidlasa, head of the parliamentary budget committee, said this would be the sixth budget of the full-scale war, and that its cost is rising faster than state revenues.
Rising cost of the war
According to Pidlasa, daily spending on the war rose to $190 million this year, compared with $116 million in 2022. Finance Minister Serhii Marchenko also told lawmakers that Ukraine would need more than $52 billion in international financial assistance in 2027.
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The government of President Volodymyr Zelenskyy already has partner commitments of about $20 billion and is negotiating to cover the remaining needs. Marchenko said that Russian assets frozen by Ukraine's European allies could become one of the key sources for covering the budget gap in 2027.
Budget needs and reforms
According to the finance minister's estimate, this year there is an additional uncovered need of $27 billion in defense spending. The funds are needed, in particular, to raise servicemembers' salaries and increase weapons production. Marchenko linked the worsening financial situation to increased strikes by the Russian Federation, an aggressor state, against Ukrainian businesses and infrastructure, which have caused budget revenues to begin declining.
Lawmakers may submit proposals on the draft budget until October 1, and the Verkhovna Rada must adopt it in three readings by December 1. Parliament also supported at first reading a bill on taxing foreign parcels. Marchenko said that progress on tax and customs reforms opens the way to about €4 billion in EU macro-financial support.
