Ukraine allocates additional $11.96 bn for defence

Home | News | Ukraine Allocates Additional 11 96 Bn For Defence Ukraine allocates additional $11.96 bn for defence Plans to source funds from hiked taxes, additional placement of domestic government debt bonds By IANS Published Date - 19 September 2024, 09:32 AM A Ukrainian serviceman stands inside an orthodox church heavily damaged by a Russian bombing in Novoekonomichne, Ukraine. Photo: AP Kyiv: The Ukrainian parliament has voted to allocate an additional 495.

3 billion hryvnias (about $11.96 billion) for defence, the country’s Finance Ministry has said. The voting on Wednesday was supported by 298 votes in favour, surpassing the required minimum of 226, lawmaker Yaroslav Zheleznyak said.



Also Read NATO calls China “decisive enabler” of Russia’s war against Ukraine With the sum, Ukraine ‘s expenditures for defence will reach 3.73 trillion hryvnias (about $90 billion) in 2024, Zheleznyak wrote on Telegram. Ukraine will source additional funds for military needs from hiked taxes and additional placement of domestic government debt bonds, among other sources, according to lawmaker Rolsolana Pidlasa.

Last year, it spent about $64 billion, or about 40.5 per cent of its gross domestic product on defence. Follow Us : Tags additional funds for military needs defence spending gross domestic product (GDP) Russia Ukraine War Related News ‘Patience has its limits’: Russia warns West of potential nuclear response Putin warns Western countries against direct involvement in Ukraine conflict Russia expels 6 British diplomats for ‘spying, subversive activities’ Ukraine’s Foreign Minister Dmytro Kuleba resigns.