The Ukrainian Government has approved the new state budget for 2023, according to it, almost 90% of all taxes and fees of the country’s population and business will be directed into financing the army and other security services, Prime Minister of Ukraine Denys Shmyhal reported in a social media post.
It is UAH 1.1 trillion, or roughly $30.5 billion, and constitutes 43% of total spending in 2023. Earlier we covered how these funds would be distributed. At the same time, the state estimates to collect 1.3 trillion in national currency, which gives us the aforementioned 90 percent.
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According to the calculations provided by ZN.ua, while the defense spending is 18,2% GDP, the deficit of more than 20% of GDP will be covered with the help of Ukraine’s allies, namely the European Union, the USA and the International Monetary Fund.
"The 2023 budget will be a budget for Ukraine's victory in the fight against the aggressor," said Denys Shmyhal as the new budget was announced.
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