North Korea’s losses in the Russia-Ukraine war are heavy, as more than 1,000 North Korean soldiers have been killed or injured…
Ukrainian President Volodymyr Zelensky signed into law the 2025 budget today, Thursday, of which just over 50 billion euros, or 60% of spending, will go to defence and security to counter Russian aggression.
The budget, amounting to approximately 82 billion euros, was previously approved by Ukrainian lawmakers on November 19.
Ukraine, which has fewer weapons, fewer front-line recruits, and fewer funds than Russia, has been compelled to increase its defence spending to support the war effort as the Russian invasion approaches its third year.
In total, a little more than 50 billion euros will be spent for defence and national security, which includes arms production and soldiers’ salaries, according to the finance ministry.
The Russian invasion of Ukraine since February 2022 has devastated the national economy, destroyed numerous infrastructures, caused significant economic losses, and prompted the West to massively aid Kyiv. The departure of millions of Ukrainians abroad has also strongly affected the state’s tax revenues.
The Ukrainian army has been facing difficulties for several months on the battlefield against Russian troops, which are advancing in several sectors of the front.
In fact, the arrival in the US presidency next January of the unpredictable Donald Trump makes Kiev fear that the US will reduce or completely stop the US aid, which is so vital to Ukraine in fending off the Russian army.
Also read: USA | Defensive aid to Ukraine and for 2025 says Blinken
Russia’s draft budget for 2025-2027
On Wednesday, from the Russian side, the upper house of the Russian parliament approved the draft budget for the period 2025-2027, which foresees a steep rise in defence spending this year, at a rate of 30%.
The 2025 budget predicts that Russia’s defence spending will reach nearly $119 billion euros, more than 6% of Russian GDP.
A total of at least 40% of the Russian federal budget for 2025 will be devoted to defence and national security.
Already in 2024, Russia’s defense spending has increased by almost 70% year-on-year, representing, together with security investments, 8.7% of the country’s GDP, according to Putin. This happened for the first time since the collapse of the Soviet Union, more than 30 years ago.
Also read: Russia | Debt cancellation for recruits who agree to fight in Ukraine
READ MORE
Syria | New Minister of Defence Murhaf Abu Kasra
Syria’s new leaders have appointed Murhaf Abu Kasra, a prominent figure among rebels who ousted Bashar al-Assad, as…
Red Sea | A US Fighter Jet was Shot Down by Friendly Fire
A US fighter jet was shot down by friendly fire over the Red Sea on Sunday, as announced by the headquarters of the US armed…
Losses for North Korea in Ukraine | 1,100 soldiers have been killed or wounded
North Korea’s losses in the Russia-Ukraine war are heavy, as more than 1,000 North Korean soldiers have been killed or injured…
THEON INTERNATIONAL | Projection for continued growth for the financial year 2025 with a high margin for profitability
THEON INTERNATIONAL PLC (THEON) has announced its projections for the financial year 2025. Revenue is expected to…
Greece | PDPA’s “yes” to Placing Police Cameras on the Streets
The Personal Data Protection Authority gave the green light to the Hellenic Police’s placement of cameras on the streets to prevent and…
MBDA | Modernising TAURUS Missiles for the Bundeswehr
The Bundeswehr and TAURUS Systems GmbH (a joint venture between MBDA and SAAB) have signed a contract for the maintenance and…
Syria | New Minister of Defence Murhaf Abu Kasra
Syria’s new leaders have appointed Murhaf Abu Kasra, a prominent figure among rebels who ousted Bashar al-Assad, as…
Turkey – Spain | Memorandum of Cooperation for the Development of Turkish Hurjet Training Aircraft
Turkey and Spain have signed a Memorandum of Understanding (MoU) to develop Turkish-made Hurjet trainer-light fighter aircraft.