Ukraine's Fight for Funds: The Cost of War
By 2026, Ukraine will need at least $120 billion just for defense. This is a huge financial challenge, but it's what's needed to keep the country safe.
Defense Minister's Announcement
The defense minister, Denys Shmyhal, made this announcement. He said the money is crucial. It will help:
- Maintain defense lines
- Produce more drones and weapons
- Protect the skies
- Deter further Russian aggression
Rising Defense Spending
Since Russia's invasion in February 2022, Ukraine's defense spending has skyrocketed. Now, more than 31% of the country's gross domestic product goes to the army. This year alone, the state budget plans to spend at least $63 billion on defense. This doesn't even include the weapons and support from Western allies.
Cost of the War
The cost of the war keeps rising. In 2025, a single day of war is expected to cost $172 million. That's up from about $140 million in 2024. These costs cover:
- Soldiers' wages
- Weapons
- Payments to those injured or killed in battle
Funding the Defense
Ukraine is looking for ways to fund this massive expense. Officials have appealed to allies to find ways to use frozen Russian assets to help Kyiv's finances. But so far, no additional funding sources have been specified.
Intensified War
The war has intensified in recent months. Fierce fighting is happening along more than 1,000 km of the frontline. Russian troops are also ramping up their air attacks on Ukrainian cities and towns far behind the frontline.
Diplomatic Efforts
Diplomatic efforts to end the war have not yet brought any tangible results. This week, tensions reached a new level when NATO fighter jets had to scramble to shoot down multiple Russian drones that violated Polish airspace.
Conclusion
Until a diplomatic solution is reached, Ukraine will need to keep fighting. And to keep fighting, they need money. Defense has an enormous financial cost, and Ukraine is doing everything it can to meet that cost.