Ukraine's government has approved and submitted its draft state budget for 2027 to the Verkhovna Rada within the deadline set by law. Prime Minister Serhiy Koretskyi described it as the budget of a country at war.
Koretskyi said the government's key task was to secure the country's defence and security needs while preserving financial stability.
Defence spending figures
He said the draft budget sets aside 4 trillion 885 billion hryvnias for defence alone, describing this as nearly 44% of gross domestic product. He said partners were also providing additional material and technical assistance, including missiles, weapons, equipment, shells and other means of destruction, which he expected to total at least 1 trillion hryvnias, more than this year.
He added that the defence forces' needs for 2027 were significantly higher than that, that the cost of the war was rising, and that the government was still finalising exact calculations.
Funding the shortfall
Koretskyi said the government and all state bodies were working to find sources to cover these needs. He said Ukraine's own revenues could only cover part of its spending, and that coordinated work with partners was therefore the foundation for filling the state budget and covering all necessary military and social expenditure.
He said the main task was to ensure Ukraine could not only defend itself but also strike effectively in response, and guarantee Ukrainians the support they need.
Background on the deficit
The Verkhovna Rada is Ukraine's parliament, which must review and approve the state budget each year. Ukraine has relied heavily on Western financial and military support since Russia's full-scale invasion began in February 2022.
Koretskyi had earlier said Ukraine would be forced to make large-scale cuts to its current budget spending if lawmakers did not pass unpopular measures needed to secure billions of dollars in Western aid before winter.
