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Ukraine's 2022 defence expenditure accounted for 32.5% of GDP

"Financing the defence sector remains a priority for the government as Russia's invasion of Ukraine continues"

Russia Ukraine war

Representative image

IANS Kiev

Ukraine's defence spending in 2022 accounted for 32.5 per cent of the country's gross domestic product amid the ongoing war with Russia, a top official said here.

Oleksiy Danilov, secretary of the National Security and Defence Council, said Ukraine allocated about $42 billion last year for national security and defence, reports Xinhua news agency.

He emphasised that financing the defence sector remains a priority for the government as Russia's invasion of Ukraine continues.

Ukraine increased its initial defence budget for 2022 by $33.66 billion after the introduction of martial law on February 24, 2022, the same day Russia launched its invasion.

 

This year, the war-torn country plans to spend $31.2 billion to cover its defence needs.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 10 2023 | 2:51 PM IST

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