The first reading of Ukraine’s proposed budget for 2025 was passed in Parliament on October 31, allocating 26% of GDP to defense and military expenditures.
“Security and defense will be the priority of the budget for next year.” All taxes paid by individuals and businesses will be used to strengthen our military capabilities and defenders, Prime Minister Denys smyhal announced on his Telegram channel.
Military and defense expenditures will increase by Hr 46 billion ($1.6billion) compared to the year 2024, reaching Hr 2.2 trillion (approximately $53.4billion).
According to Shmyhal’s estimates, state expenditures will increase by Hr 535 ($13 billion) and reach Hr 3.6 ($87.4 trillion), while revenues should reach Hr 2.7 ($65.5 million), an increase of Hr 411 ($10 billion) since 2024.
“Not a single change was made to the document that would have met the needs of the military and those who need support today,” said opposition lawmaker Dmytro Rasumkov, criticizing it on his Telegram channel.
After today’s discussion, the budget law is expected to go through several more rounds of consideration, before the lawmakers vote on it in a final round, which should be held by December 1.
As the war-torn Ukrainian economy has faltered, the state budget of Ukraine has become increasingly dependent on external support. This includes war bonds, IFI loan, and bilateral loans.
The growing annual budget deficit in Ukraine, which is expected to reach 20.6% by 2023, prompted lawmakers in September to approve the first tax increase since the war began. This was a politically unpopular decision, as the country sought new sources of funding for the expanding wartime budget.
Ukraine faces a budget deficit of $35 billion next year. With the Russian war in its third year and no end in sight for the conflict, the country needs to secure funding both to maintain its economy and fund the war effort.
Bloomberg reported that the decision was in line according to analysts’ predictions and comes as Ukraine prepares for next week’s U.S. Presidential election.
Authorities said that the attack destroyed the entrance from the first to fifth floors of a nine-story building.
Ukraine’s Air Force reported that Russia launched at least fifty drones overnight. Of these, Ukrainian air defenses shot 17 down in various regions.
In a signed security agreement between Poland and Ukraine, the possibility of Warsaw shooting down Russian missiles headed toward Poland via Ukraine was laid out.
The global entrepreneur network Endeavor, based in New York, has opened its first Ukrainian office to show confidence in the country’s potential for business.
The Kyiv independent in June identified Mykola Senenko as raping an unidentified woman in Kherson Oblast, March 2022.
Written in full $2.5 decillion is $2,500,000,000,000,000,000,000,000,000,000,000,000.
It was a confidential information between Ukraine & the White House. How can we understand these messages? Volodymyr Zelensky, President of Ukraine, said this during a press conference with journalists from Nordic nations.
Time editors have been highlighting the most influential products and ideas for more than 20 years in their Best Inventions magazine.
Kyslytsya reported that the top officers of North Korea include two deputy chiefs: Colonel General Kim Yong Bok who oversees special operations, and Ri Chang-Ho, who is responsible for the Reconnaissance Directorate (North Korea’s spy agency), Kyslytsya stated.
The Russian forces have suffered 1,310 casualties in the last day alone.
During a Tbilisi press conference, President Salome Zourabichvili showed footage that purportedly showed ballot violations. “It’s not the president’s job to provide evidence which already exists in society.”
“…The Danish Model allows us to attract financing from our partners in Ukrainian defence production. “We are now producing almost 20 ‘Bohdana artillery units per month, and we have made great progress in other areas,” said President Volodymyr Zelensky.
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Following the suspension of operations at Arctic LNG 2, Russian LNG tankers have gathered off Russia’s east coast, indicating that Moscow has been unable to find buyers.
Serhii dobriak, the head of the Pokrovsk Military Administration, said: “Fortifications will be built in Pokrovsk and we have already entered the city. Certain areas of the town will be blocked so please leave those areas and don’t enter or leave the city.”
U.S. Secretary of Defense Lloyd Austin stated on October 30 that “the evidence now suggests that North Korea sent about 10,000 soldiers for training in eastern Russia.” “Some of these DPRK soldiers have already moved closer towards Ukraine, and we see them outfitted in Russian uniforms and equipped with Russian equipment.”
According to U.K. finance minister Rachel Reeves, London will provide guaranteed support for Ukraine in the amount of PS3 billion ($3.8billion) per year.
Brussels expects Ukraine’s broadcasters to return their work to the format of the pre-war period, and questions the telethon’s objectivity.
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