The President signed the budget for the next year: UAH 2.23 trillion for defense

28 November, 2024 Illustrative photo of financial benefits. Photo from open sources. President of Ukraine Volodymyr Zelenskyi has signed the state budget law for 2025.

Prime Minister of Ukraine Denys Shmyhal announced this. The budget's priority remains the defense of the state: financing the Security and Defense Forces and purchasing and producing weapons, drones, and equipment. UAH 2.23 trillion will be allocated for this purpose.

In addition, UAH 420.9 billion will be allocated for social protection, UAH 217 billion for healthcare, and UAH 199 billion for education. In total, next year's expenditures are planned at UAH 3.6 trillion. Revenues will amount to UAH 2.05 trillion.

"The Government clearly understands that we will pass the next fiscal year with confidence. We have the coordination of the branches of power and the strong support of our partners," Denys Shmyhal emphasized. Verkhovna Rada adopted the draft state budget for 2025 on November 19.

In particular, it provides for record expenditures of UAH 3.94 trillion. Earlier, it was reported that the state budget for 2025 has over UAH 55 billion for producing weapons and military equipment. These funds will be used to develop production, develop and implement new technologies, and increase production capacity for defense products.

A batch of BMP-2 and BREM-2 repaired at Zhytomyr Armor Plant. November 2021

In addition, UAH 500 million is planned to be allocated to the affordable loans program for Ukrainian defense companies. This program, created this year, allows manufacturers to take out loans at 5% per year.

The state budget will cover the rest of the interest.

The government expects that domestic enterprises will be able to produce more weapons and deliver them to the Defense Forces faster.