Govt seeks Rada backing for higher defense spending in 2025 state budget – Finance Minister
Serhiy Marchenko, the Minister of Finance of Ukraine, confirmed that the government will likely submit another amendment to the 2025 state budget to the Verkhovna Rada regarding an increase in spending on the security and defense sector due to the situation on the battlefield.
"We are currently holding consultations with relevant sector representatives, the Minister of Defense, and the First Deputy Prime Minister to find the optimal solution for allocating these expenditures. We will contact you as soon as a decision is made," the minister said in response to a question in the Verkhovna Rada on Friday.
Marchenko noted that the resources to cover these additional costs are available.
"The question remains what format this support will take and when we will address you. Therefore, I hope that you will be understanding of the need to increase the budget," he concluded, refraining from any specific figures.
Earlier, the publication Ekonomichna Pravda reported that there is a possibility of an increase in expenditures by UAH 300 billion. Several Interfax-Ukraine sources in the government and parliament confirmed this figure. Additionally, last week, European Commission President Ursula von der Leyen announced the decision to accelerate the allocation of EUR 6 billion to Ukraine under the ERA program at the expense of income from frozen Russian assets. This could happen as early as October instead of December.