Approximately 50 billion hryvnias need to be found by the end of the year to provide an additional payment of 70,000 hryvnias for military personnel and police officers performing tasks on the front lines.
According to the decision of the Cabinet of Ministers, this new supplement will be introduced from April 1, 2024, but the state budget does not provide for funding. According to the estimates of the Ministry of Finance, the total need for financing for this additional payment by the end of 2024 will exceed 50 billion hryvnias.
At the same time, the possibility of increasing defense spending in 2024 by more than 400 billion hryvnias for the purchase of military equipment and ammunition is being considered.
The Ministry of Finance is starting to prepare relevant changes to the state budget, but the sources of funding have not yet been determined. One possible source is an increase in taxes. In case of successful restructuring of the Eurobond debt, the government can save more than 200 billion hryvnias.
We will remind that from April 12, the Cabinet of Ministers adopted a resolution on providing an additional bonus of 70,000 hryvnias to military personnel for 30 days on the front line.
Chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev, believes that the state budget will be able to cover these payments through taxes and an increase in the domestic debt.
