Ukraine’s parliament approves 2026 budget, with focus on defense

ISTANBUL

Ukraine's parliament voted Wednesday to approve the country's budget for 2026, with nearly a third of outlays going to defense and security as the over 3 1/2-year Russia-Ukraine war continues.

The budget bill was passed by the Verkhovna Rada with the support of 257 lawmakers, according to its website.

Ukrainian President Volodymyr Zelenskyy expressed gratitude to all parliamentarians who supported the budget measure.

“This is an important signal of Ukraine's resilience and stable financial provision for next year's needs. The priorities are clear: guaranteeing our defense, social programs, and opportunities to restore life after Russian strikes,” Zelenskyy said on Telegram.

He added that Ukraine is also working with partners to attract the necessary financial support for the country.

“This budget provides funding for defense, social support, and economic development. The country directs all available resources to the main thing – the defense and defense capability of Ukraine,” said Finance Minister Serhii Marchenko in a statement.

The statement said 27.2% of the country’s GDP will be used for defense and security, including for purchases of weapons and military equipment, while about $49.2 billion in external support will be needed for the coming year.

“It is expected to attract resources from the World Bank, the EU, the United Kingdom, the IMF and the G7 countries,” it added.

Prime Minister Yulia Svyrydenko wrote on Telegram that the budget’s key priorities are defense, security and social stability.

Next year, Ukraine will allocate 2.8 trillion Ukrainian hryvnias ($66.4 billion) to the army, or almost 60% of all expenditures, Svyrydenko added.

The bill has to be signed by Ukraine's president before it becomes law.