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War economy: every single tax hryvnia will go to the army

08 Dec, 2023
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War economy: every single tax hryvnia will go to the army

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In 2024, Ukraine plans to spend almost UAH 1.7 trillion on the army, defence and security.

The entire UAH 1.575 trillion of taxes paid to the budget by Ukrainians and Ukrainian businesses in 2024 will be used for defence. In addition, the Government will raise funds for defence needs through the placement of military bonds, dividends from state-owned companies, NBU profits, privatisation, etc. Other government expenditures will be financed by international partners.

In 2023, the economy recovered faster, businesses and citizens paid more taxes, and the country managed to attract funds from international partners to finance non-military expenditures. As a result, the Government kept increasing the defence budget in 2023.

The same will be true in 2024 - every hryvnia of the state budget revenues will be spent on Ukraine's victory. See the infographic for more details.

The Odessa Journal

The Odessa Journal

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