German government approves draft budget with half less military aid for Ukraine
17 July 2024 15:56
The German government has approved the draft state budget for 2025, which provides for half as much military aid to Ukraine as this year. This was reported by "Komersant Ukrainian" reports with reference to German media.
The total expenditure of the German budget for 2025 is expected to amount to €480.6 billion, of which the defence budget will be €53 billion. An additional €22 billion is earmarked for re-equipping the German army.
Another €4 billion was allocated for military assistance to Ukraine. In 2024, €8 billion was allocated.
The German parliament will now consider the draft budget. Traditionally, the budget process in Germany takes place in autumn. The final vote is expected on 8 November.
Ukraine Facility
In February, the EU approved the Ukraine Facility, the main EU funding mechanism for Ukraine in the amount of €50 billion for the period 2024-2027. The programme consists of €17 billion in grants and €33 billion in loans. The mechanism provides not only for financing budgetary areas in Ukraine during the war, but also for programmes aimed at implementing the reforms on which Ukraine’s accession to the EU depends.
The resolution emphasises that EU support should be directed in three areas:
- Financial support for Ukraine to implement reforms and investments, and to maintain the country’s macro-financial stability, as envisaged in the Ukraine Plan to be developed by the Ukrainian government.
- Ukraine’s investment framework to mobilise investment and increase access to finance.
- Assistance on the path to European integration to mobilise technical expertise and build capacity.
Formore news, please follow Kommersant Ukrainian Telegram channel at https://t.me/komersant_ukrainskyi.
