The state budget plans to increase defense spending in the amount of over UAH 500 billion: statement of the Minister of Finance

The Minister of Finance of Ukraine, Serhiy Marchenko, in an interview during a telethon, announced plans to significantly increase spending on security and defense in the state budget, noting that these expenses will exceed 500 billion hryvnias.

This decision became necessary in connection with the new challenges facing the country and the requirement to provide the army with modern weapons. Marchenko emphasized that this amount, although already significant, can grow even more, given the current situation and the needs of the defense sector.

The minister explained that such changes in the budget are unprecedented and necessary to ensure national security in the conditions of prolonged aggression against Ukraine. In particular, we are talking about the purchase of high-tech weapons and military equipment, which requires significant financial resources. Marchenko noted that the increase in defense spending will be the largest in the history of Ukraine and will exceed all previous budgets aimed at this sector.

Marchenko also emphasized that financing these additional costs will be a difficult task for the state. In this regard, the minister noted that the country will face an inevitable increase in taxes. He explained that this is a forced step, since without it, providing additional budget revenues to support the country’s defense capability would be impossible.

According to Marchenko, the increase in taxes will affect not only large corporations, but also all citizens, which may cause certain difficulties and dissatisfaction among the population. However, the minister stressed that this is a necessary step to ensure the country’s security in wartime conditions. He also emphasized that the government will make every effort to balance the budget and minimize the negative impact on the economy and social sphere.

Marchenko also noted that in wartime, the government has to work in extremely difficult conditions, constantly adjusting the budget to meet the changing needs of the military and provide the country with everything necessary for defense. The minister stressed that although the tax increase may be an unpopular measure, it is an integral part of the government’s national security strategy.