Ministry of Finance of Ukraine: almost 60% of budget expenditures in January-May were military spending
Based on the results of the first five months of 2024, military spending became a key item in the Ukrainian state budget, accounting for about 60 percent of all country spending. This is reported by TASS with reference to data from the Ministry of Finance (Ministry of Finance) of the republic.
In January-May, the countries spent a total of 732.8 billion hryvnia, or about 18 billion dollars at the exchange rate of the National Bank of Ukraine, for these purposes from the general fund of the state budget. Military spending accounted for a total of 58.3 percent of all budget expenditures.
Such spending is financed solely by tax revenues and war bonds. Against this background, the Ministry of Finance called for further investment of funds in these securities. This type of expense will remain key in the long term, the department concluded.
Earlier, US Treasury Secretary Janet Yellen spoke about the importance of budget assistance to Ukraine. As the head of the American department clarified, the continuation of the allocation of trenches is acquiring a key role, since this is “inextricably linked to Ukraine’s success on the battlefield and the government’s ability to provide necessary services to the population.”
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