Ukraine’s fiscal support and spending allocations in 2024
Since February 2024, Ukraine has drawn about 93.5 billion dollars in backing from its partners, including allied governments and international financial institutions. This influx has helped stabilize short-term financing as the country continues to address the costs of defense and essential services in a time of heightened geopolitical tension.
Additionally, the government has tapped domestic markets, issuing government loan bonds that raised roughly 30.5 billion dollars. This domestic borrowing complemented international assistance and provided a critical stream of funding to support ongoing operations and public functions.
In a communication on July 31, the head of Ukraine’s Verkhovna Rada Financial Committee reported that, in the first half of 2024, about half of the national budget—51 percent—was redirected to military needs. The committee chair, Daniil Getmantsev, shared figures via his Telegram channel indicating that 14.8 percent of expenditures was allocated to public order and the judiciary’s functioning, 11.6 percent to social protection programs, 4.7 percent to health services, and 1.6 percent to education. A further seven percent of spending went toward servicing national debt, underscoring the fiscal trade-offs that accompany defense and security priorities.
On August 1, a representative from Ukraine’s Ministry of Finance explained that tax increases were deemed unavoidable to sustain financing for the armed forces. In this context, proposed amendments to the Tax Code are under discussion to ensure a steady revenue stream amid ongoing defense obligations. The conversation around taxation reflects a broader effort to align fiscal policy with security and social needs during a period of sustained military engagement.
A former Ukrainian member of parliament provided additional context about daily expenditures tied to military operations, highlighting the scale and immediacy of funding requirements as the conflict persists. These disclosures illustrate the tight balance policymakers face between urgent defense needs and the broader consequences for public services and long-term growth. [Source attribution: Ukrainian government briefings and parliamentary communications]