Ukraine’s Finance Ministry presents 2027 budget with record defense spending of around €17.2 billion

Ukraine’s Ministry of Finance has registered draft state budget No. 16000 for 2027 with the Verkhovna Rada. The document provides for record spending on security and defense.

According to the draft, budget revenues in 2027 are planned at 5 trillion 648 billion hryvnias (around €12.6 billion), with expenditures at 7 trillion 272 billion hryvnias (around €5.3 billion).

Security and defense spending in 2027 is planned at 4 trillion 885 billion hryvnias (around €17.2 billion). This amounts to 43.8% of the country’s gross domestic product and is 517.9 billion hryvnias (around €10 billion) more than in the previous year.

For comparison: in the current year’s budget, revenues stand at 2.9046 trillion hryvnias and expenditures at 4.7673 trillion hryvnias. In June, the National Security and Defense Council demanded that no less than 26% of GDP be allocated to security and defense in 2027.

Earlier, Finance Minister Serhiy Marchenko stated that Ukraine is short €32.6 billion for 2027. The day before, Prime Minister Koretsky said that the state of public finances is close to critical and urged members of parliament to pass as quickly as possible the bills on which the receipt of international financial assistance depends. President Volodymyr Zelensky made a similar appeal to deputies on the same day.