The Ministry of Finance has found a new source of financing for the Ukrainian army
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Economics
Publication date

The Ministry of Finance has found a new source of financing for the Ukrainian army

Verkhovna Rada of Ukraine
Ukraine's allies can finance military salaries

The Head of the Ministry of Finance, Serhiy Marchenko, officially confirmed that the Cabinet of Ministers is currently conducting active negotiations with international partners on attracting their funds to finance the security and defense sector of Ukraine.

Points of attention

  • Attracting funds from allies could become a key component in ensuring Ukraine's security, with discussions underway to direct resources to both civilian needs and the defense sector.
  • The Minister of Finance highlighted the readiness and understanding from partners, expressing hope for specific agreements soon to be reached for financing Ukraine's security needs.

Ukraine's allies can finance military salaries

The deputies asked Serhiy Marchenko whether negotiations were underway with partners regarding direct financing of the salaries of Ukrainian military personnel with their money. The Minister of Finance answered in the affirmative:

We are convincing partners to direct resources not only to civilian needs, but also to the security and defense sector.

Serhiy Marchenko

Serhiy Marchenko

Head of the Ministry of Finance of Ukraine

According to the head of the department, as of today, the priority that Ukrainian leader Volodymyr Zelensky has set for the Cabinet of Ministers is important.

That is why the government is doing everything possible to find reliable sources of defense spending in the medium term.

Against this background, the Ministry of Finance presented preliminary calculations: the department determined the number of military personnel needed after the end of the active phase of the war, and the amount of funding by category.

What is important to understand is that this data will be the basis for joint actions between the government and international partners.

As Marchenko noted, attracting such funds could become part of a package of guarantees for Ukraine's security.

"There is a readiness and understanding that this issue will be resolved. I hope we will soon be able to talk about specific agreements," the head of the Ministry of Finance emphasized.

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