Ukraine's government approved on September 15 a draft budget for next year, planning for higher defense spending and counting on continued Western financial support to cover the expected deficit. The draft 2024 budget puts the deficit at 1.548 trillion hryvnyas ($42 billion) or at about 20.4 percent of gross domestic product. More than half of all planned Ukrainian budget spending next year, or 1.7 trillion hryvnyas, is planned for the defense sector to fund the war effort against Russia, which launched a full-scale invasion in February 2022. The draft has yet to be approved by parliament. To read the original story by Reuters, click here.
