Ukraine's Wartime Fiscal Shift: Budget 2025

Ukraine's 2025 budget, set for signing by President Zelenskiy, marks the country's first wartime tax hikes, essential for funding defense against Russia. Finance Minister Marchenko anticipates these tax increases will generate significant revenue to enhance Ukraine's weaponry capabilities as the conflict continues.

President Volodymyr Zelenskiy announced his intent to sign Ukraine's 2025 budget, featuring the nation's inaugural wartime tax hikes, underscoring the fiscal strategy amidst ongoing conflict with Russia.

Following discussions with Prime Minister Shmyhal and lawmakers, Zelenskiy emphasized that Ukraine's upcoming financial obligations are fully secured, highlighting the budget's critical role in supporting defense needs.

Finance Minister Serhiy Marchenko projected that the increased taxes aim to yield 141 billion hryvnias ($3.39 billion), facilitating substantial investment in weapon modernization and production as Ukraine fortifies against Russian advances.

(With inputs from agencies.)