PM Koretskyi announces 2026 budget revisions to find more defense funding
The progression of the Russo–Ukrainian war demands additional defense funding this year, Prime Minister Sergii Koretskyi said on Aug. 3.
Prime Minister Sergii Koretskyi announced on August 3 that the Ukrainian government plans to revise its 2026 budget to allocate more funds towards defense, in response to the escalating Russo-Ukrainian war. During a meeting with Ukrainian ambassadors in Kyiv, as reported by Interfax-Ukraine, Koretskyi stated that meetings with key ministers and military commanders revealed a growing need for additional funding, driven by battlefield realities and military command decisions.
The government intends to finalize budget numbers by the end of 2026 and prepare a draft for 2027. Koretskyi appealed to diplomatic corps to assist in securing additional funding from international partners. He emphasized the priority of utilizing frozen Russian sovereign assets to bolster Ukraine's defense and reconstruction efforts.
On July 30, Ukraine received a further tranche of EUR3.47 billion from the European Union through the Ukraine Support Loan, with a total of EUR45 billion slated for Ukraine in 2026. However, opposition MP Vadym Ivchenko warned on July 25 that financial aid for servicemembers would only be available until the end of August.
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