2024-09-03T19:51:00+03:00 Economy 2024-09-24T04:00:02+03:00

Ukrainian news

Rada to increase defense spending by UAH 500 billion

Rada to increase defense spending by UAH 500 billion

The Verkhovna Rada intends to increase defense spending by UAH 500 billion.

The first deputy head of the Verkhovna Rada Committee on Tax and Customs Policy, Member of Parliament from the Holos faction, Yaroslav Zhelezniak, announced this on Telegram, the Ukrainian News agency reports.

"The Rada has just adopted bill No. 11417 in the first reading on increasing the budget this year by UAH 500 billion. As a basis – backed by 301," he wrote.

At the same time, he noted that since only the first reading was adopted, the law is now in the form in which it was submitted by the Government.

"There is also UAH 125 billion from taxes. But before the second reading, it will be changed according to the recommendations given by the committee. And the deadlines for submitting amendments have been shortened by two times. We are preparing amendments to the law," the MP added.

As the Ukrainian News agency earlier reported, the Cabinet of Ministers plans to reduce spending on security and defense in 2025-2027 from UAH 2,226.8 billion to UAH 1,532.8 billion.