Ukraine's military needs exceed $150 billion in current spending Defence chief warns

Ukraine's Defence Minister Rustem Umerov has stated that while the country has spent over $150 billion on military needs, this amount falls short of what is required.

In an interview with the Ukrainian TV channel, Umerov emphasized that an increase in financial support would significantly enhance the country's capabilities, Caliber.Az reports via foreign media.

He explained that investments in military production are essential, and this need has already been communicated to Ukraine's partners.

“We are spending more than $150 billion, sourced from our partners and our budget, but more funds are necessary to significantly enhance our capabilities. We will need investments,” he said.

The minister did not clarify the timeframe for the expenditures mentioned.

In a related development, Ukrainian President Volodymyr Zelenskyy recently signed a law allocating an additional $12 billion for military purposes in 2024.

Ukrainian Prime Minister Denys Shmyhal announced that the government has approved a draft state budget for the upcoming year, projecting a deficit of 1.6 trillion hryvnias (approximately $38.6 billion).

Revenues are estimated at 2 trillion hryvnias (around $48 billion), while budget expenditures are planned at 3.6 trillion hryvnias ($87 billion). Shmyhal indicated that all domestic resources will once again be directed toward defense and security, with defense spending expected to rise to at least 2.22 trillion hryvnias ($53.6 billion).