'Third Year of War' Ukra Allocates 60% of Next Year's Budget to Defense and Security

Ukrainian President Volodymyr Zelensky has reportedly approved a government plan to allocate 60% of next year's budget to the defense and security sectors.

AFP reported that the government budget document for next year allocated $54 billion and 75.41 trillion won out of $87 billion and 121.5 trillion won in general budgets.

At the same time, he said this is slightly higher than this year.

Among Russia's next year's budget, $125 billion and 174.5 trillion won were allocated to the defense sector, with $32 billion and 44.6 trillion won set aside for domestic security spending.

Ukraine has seen a significant drop in tax revenues since the war due to massive migration and a contraction in economic activity and is heavily reliant on support from Western countries and international financial institutions.