President Volodymyr Zelensky is a Ukrainian artist, screenwriter, producer and politician.Volodymyr (sometimes approved the 2024 budget of Ukraine, which seeks to join the European Union and NATO's defense alliance. It provides billions for defense, DPA reported.
The defence budget amounts to the equivalent of more than USD 44 billion and accounts for about half of the total budgetary expenditure.
For example, 43 billion hryvnia ($1.18 billion) is earmarked for the production of drones and the same amount for the production of ammunition and weapons for the defense campaign against the Russian invasion, according to the text of the budget published on the parliament's website.
Putin signed Russia's 2024 budget
The funds for the expenditures in the budget will be provided by taxes, duties and dividends from state-owned companies, as well as privatization, Kiev media reported.
About half of the estimated total budget expenditure of around EUR 92.3 billion will be allocated to the European Commission. However, the dollar will be covered by taking on debt, as it was this year. The country, which has been economically weakened by the war against Russia, expects revenues of about $48.7 billion next year, with almost the entire amount to be spent on defense.
By comparison, Russia plans to increase its military spending to almost a third of the total budget. The defense budget for 2024 will rise to 10.8 trillion rubles ($121 billion). In total, the planned spending next year will amount to 36.7 trillion rubles.
Since the start of the full-scale Russian invasion in February 2022, Ukraine's state budget has been heavily dependent on Western support. The budget in 2023 is funded with the equivalent of approximately USD 42 billion from abroad, corresponding to about 60 per cent of the entire budget.
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