Ukraine Boosts 2024 Defense Budget Amid Rising Costs
Ukraine's government has approved a substantial increase in defense spending for the 2024 budget, totaling an additional 495.3 billion hryvnias ($11.9 billion). The proposal, announced by government representative Taras Melnychuk, also includes various tax increases and requires parliamentary approval to proceed.
- Country:
- Ukraine
Ukraine's government has endorsed amendments to the 2024 budget law, substantially raising defense spending by 495.3 billion hryvnias ($11.9 billion). A senior official disclosed the development on Thursday.
Taras Melnychuk, a government representative in parliament, revealed that the proposal was approved during a cabinet meeting. The proposal also outlines various tax hikes aimed at financing the increased expenditure.
The changes now await legislative approval from the country's parliament to be enacted.
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