Ukraine To Spend $29.8 Bln On Defense In 2023 According To Draft Budget - Prime Minister

Ukraine's 2023 draft state budget allocates $29.8 billion, or half of the budget, to the security and defense sector, Prime Minister Denys Shmyhal said on Tuesday

MOSCOW (UrduPoint News / Sputnik - 13th September, 2022) Ukraine's 2023 draft state budget allocates $29.8 billion, or half of the budget, to the security and defense sector, Prime Minister Denys Shmyhal said on Tuesday.

Earlier in the day, lawmaker Yaroslav Zheleznyak said that the cabinet of ministers approved the draft budget for the next year.

"In the budget that we submit, there is one main priority - the defense and security of our country. 1.136 trillion hryvnia (about 29.8 billion Dollars) or almost 50% of the total budget will be directed specifically to the security and defense sector," the prime minister told a government meeting, adding that the inflation might reach 30% next year.

According to the draft state budget, Ukraine's expenditures next year will be twice as high as revenues, Shmyhal said.