Zelenskyy signs law to increase defense spending by UAH 500 billion
Ukrainian President Volodymyr Zelenskyy (Photo: Getty Images)
President of Ukraine Volodymyr Zelenskyy has signed a law to increase the 2024 budget spending on defense by 495.3 billion hryvnias, according to the Verkhovna Rada and MP Yaroslav Zheleznyak.
"President signed law No. 11417 to increase this year's budget by 500 billion hryvnias for military needs," Zheleznyak wrote.
According to him, a new record for Ukraine's expenditures has been set — 3.73 trillion hryvnias, 2.3 times more than the budget before the full-scale war began.
The signing of the law is also confirmed by the document's card posted on the Verkhovna Rada website. President Volodymyr Zelenskyy signed the law on September 20.
According to information on the parliamentary website, the law was passed by 298 MPs on September 18, and it was sent to the President for signing on September 20, after it was signed by the Chairman of the Verkhovna Rada, Ruslan Stefanchuk, on the same day.
Adoption of the 2024 budget amendment law
In July, the Cabinet of Ministers submitted a draft amendment to the 2024 budget to the Verkhovna Rada, proposing an increase of 500.3 billion hryvnias. The draft proposed directing an additional 495.3 billion hryvnias to defense needs.
On September 2, the Budget Committee of the Verkhovna Rada recommended approving the government's revised draft to increase budget spending by 500 billion hryvnias in full.
On September 18, the Verkhovna Rada passed the amendments to the state budget for 2024 in full.
