The Ukrainian government adopted on Thursday the budget for the year 2027, which requires external financing of 45.8 billion euros and includes record military expenditures, over four and a half years since the start of the war initiated by Russia.
“The mobilization of funds from the European Union, the G7 countries, the International Monetary Fund, the World Bank, the United Kingdom, and other international partners is anticipated,” indicates the document that can be consulted on the website of the Ukrainian Ministry of Finance, according to France Presse and Agerpres.
The main sector of expenditure is represented by defense and security, with 95.9 billion euros planned, an increase of 11.9% compared to 2026. This amount represents 43.8% of Ukraine’s gross domestic product, a record proportion since the start of the war and the highest in the world.
For comparison, Russia’s military expenditures officially constitute 5.5% of the GDP in the 2026 budget, and reductions are forecasted in the budget for 2027, according to an analysis conducted by the opposition daily Novaia Gazeta.
“Every day of war costs Ukraine 165 million euros”
The chairwoman of the budget committee in the Ukrainian parliament, Roksolana Pidlasa, announced on Thursday that the government had to postpone until December some of the expenses planned for preparing the country for winter, especially for protecting the energy infrastructure, due to lack of funds.
Pidlasa had said that each day of war costs Ukraine around 165 million euros and that the country is not able to cover these costs on its own.
Ukrainian President Volodimir Zelenski announced on Tuesday that he is considering taking some “difficult and unpopular measures to cover” the budget deficit.
Ukraine, which largely depends on financial aid from Western allies to cope with the Russian invasion, is facing a deteriorating economic situation.
