Ukraine allocates additional 11.96 bln USD for defense

KIEV, Sept. 18 (Xinhua) — The Ukrainian parliament voted on Wednesday to allocate an additional 495.3 billion hryvnias (about 11.96 billion U.S. dollars) for defense, the country’s Finance Ministry said.
The voting was supported by 298 votes in favor, surpassing the required minimum of 226, said lawmaker Yaroslav Zheleznyak.
With the sum, Ukraine’s expenditures for defense will reach 3.73 trillion hryvnias (about 90 billion dollars) 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, Ukraine spent about 64 billion dollars, or about 40.5 percent of its gross domestic product on defense. ■