KIEV, Sept. 28 — Ukraine’s defense spending is expected to increase from 155 billion U.S. dollars this year to 175 billion dollars in 2027, the Interfax-Ukraine news agency reported Monday, citing First Deputy Minister of Finance Roman Yermolychev.
The draft budget currently allocates about 100 billion dollars for defense next year, Yermolychev said, adding that Ukraine needs to use various instruments, including cooperation with international partners, to cover the remaining amount.
Additional funding could be secured through the Ramstein format, the Prioritized Ukraine Requirements List initiative and other mechanisms for the direct procurement of weapons, said Yermolychev.
On Sunday, Ukrainian Prime Minister Sergii Koretskyi said the country’s defense budget deficit was estimated at 27 billion dollars this year. The government plans to cover 7 billion dollars of the shortfall through strict public finance austerity measures. (Namibia Daily News / Xinhua)
