Next year, the planned tax revenues from individuals and businesses are expected to reach UAH 1.58 trillion. Defence expenditures are planned at UAH 1.69 trillion.

“Defence and security expenditures are the highest priority in the State Budget for 2024, which will be financed primarily and in full at the expense of domestic sources, including tax revenues at the current rates,” said Minister of Finance Sergii Marchenko.

The gap between tax revenues and defence and security expenditures will be covered by funds from the placement of wartime bonds, dividends received from state-owned companies, privatisation proceeds, etc.

In particular, the Ministry of Defence of Ukraine will receive UAH 1.16 trillion next year, which is 36% more than in the adopted State Budget for 2023. Other defence structures will also experience a significant increase in funding.

The Ministry of Strategic Industries of Ukraine will be financed at UAH 51.0 billion, of which UAH 43.3 billion will be provided by the military personal income tax for the development of the country’s defence industry.

The State Service of Special Communications and Information Protection of Ukraine will receive UAH 50.6 billion, of which UAH 43.3 billion will be used to purchase unmanned aerial vehicles at the expense of military personal income tax.