Official announcements from the Ukrainian government and international financial institutions

Zelenskyy Signs 2025 Budget Allocating $61B for Defense, $420.9B for Social Protection, Enacts Historic Tax Increase

Nov 28, 2024, 01:36 PM

Ukrainian President Volodymyr Zelenskyy has signed the state budget law for 2025, which allocates a total of 2.23 trillion hryvnias for defense and weapons, representing 60% of the budget. Key allocations include 420.9 billion hryvnias for social protection, 217 billion for healthcare, and 199 billion for education. The budget also has a projected deficit of $45 billion, which will be covered by international aid, as confirmed by Prime Minister Denys Shmyhal. Additionally, Zelenskyy has enacted a historic tax increase law, which is expected to take effect by December 1, 2024. He emphasized that all financial needs of Ukraine for the upcoming year are guaranteed, amid calls for increased pressure on Russia in light of ongoing conflict.