Economic Future of Ukraine

by Olha Povaliaieva
Wednesday, December 14, 2022
Economic Future of Ukraine

Key indicators of the economy for 2023. The defences system of Ukraine will receive funding equal to 7 neighbouring countries

According to the state budget of Ukraine for the coming year, the country’s economy will be supported at the military level. Export figures will still exceed imports. It is expected that exports will be at least 7.2%, imports — 1%. The minimum wage of Ukrainians from January 1 will come close to $200.

According to the report, almost the entire year of the war has completely changed the country’s funding. The top ten authorities that received the most funding included ministries and structures related to the country’s defence. Next year, the situation will not change. The Ministry of defence will be the leader in obtaining financial support.

$21.2 billion will be spent on the functioning of the Ministry.  $584 billion will also provide for the work of the Ukrainian armed forces. This budget includes both the provision of necessities to soldiers and the construction of housing for them, the repair of equipment, and the demining of territories. In comparison with the budget expenditures of other countries in this industry, Ukraine plans to cover the needs of the 7 nearest armies of the world: the Czech Republic, Poland,  Slovakia, Croatia, Latvia, Lithuania, and Estonia. The Polish federal reserve is the only one that can come close to financing the Ukrainian army. In a neighbouring country, this figure reaches $33.3 billion.

It is worth noting that Ukraine also receives a lot of assistance from other countries. Such forced measures help to counter Russia, which is a threat to the whole world.

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