Ukraine's military spending in 2024 compared to 2023 increased by 2.9% and reached $64.7 billion. This is equivalent to 43% of Russian military spending and 54% of all Ukrainian government spending. According to the study of the independent global institute SIPRI.
"Ukraine had 1 of the highest levels of military burden in the world: military spending accounted for 34% of GDP in 2024, compared to 37% in 2023. In 2024, all of Ukraine's taxation revenues were entirely spent on military expenditure, while all another socio-economic expenditure was financed by abroad aid," the paper states.
The SIPRI study notes that last year Ukraine received at least $60 billion in financial assistance for military purposes, mainly from the United States, as well as from Germany and another European countries.
"SIPRI takes military aid into account in donor country spending alternatively than recipient country spending, meaning that this $60 billion was not included in the full amount for Ukraine. If included, Ukraine's military spending in 2024 would be $125 billion, making it the world's 4th largest spender," added the institute's experts.
At the same time, the SIPRI study reports that Russia's military spending in 2024 reached $149 billion. Compared to the erstwhile year, this represents an increase of 38%. Last year, aggressor's military spending accounted for 7.1% of Russia's GDP.
Source: Ukrainian Truth
BIS improvement – survey Bulletin
