defense spending

Russia’s 2025 military spending to reach $145 billion

The Kremlin is planning to increase its defense spending by 25% in 2025, reaching RUB 13.5 trillion ($145 billion), Reuters reported on Sept. 30, citing a draft of Russia’s federal budget for the next year.

30 September 2024, 09:52 PM

New NATO chief Mark Rutte to face multiple challenges in maintaining alliance unity

New NATO Secretary General Mark Rutte will need to leverage his coalition-building skills to maintain unity within the alliance amid the Ukraine-Russia war and political uncertainty in Washington, according to a Reuters report published on Sept. 30.

30 September 2024, 04:15 PM

Ukraine aims to cut public debt to 97% by 2025

The Ministry of Finance expects a reduction in public debt by 2025, from 100.5% to 97% of GDP. This was announced by Finance Minister Serhiy Marchenko during a briefing at Media Center Ukraine on Sep. 24.

24 September 2024, 05:15 PM

Ukraine invested $7 billion in domestic defense industry in 2024

In addition to the continued flow of military aid from international partners, Ukraine has spent $7 billion on domestic arms procurement in 2024, Defense Minister Rustem Umerov said on Aug. 27.

27 August 2024, 11:46 PM

Ukraine's financial stability hinges on international partners support, NBU Chair says

Ukraine works with international partners to secure $31 bln and $21 bln in financing for 2025 and 2026, respectively, amid its financial prospects uncertainty, NBU Chair Andriy Pyshniy wrote in his column for Ukrinform agency, published on Aug. 8.

8 August 2024, 01:18 PM

Estonian President calls for NATO members to boost defense spending to 3% of GDP

NATO members should consider raising defense spending to 3% of GDP, as Russia will continue to pose the most significant military threat to the Alliance for the foreseeable future, Estonian President Alar Karis said, Estonian public broadcaster ERR reported on July 7.

8 July 2024, 09:44 AM

Germany, Netherlands oppose higher EU defense spending

Germany and the Netherlands disagree with a call to make progress on funding to increase European Union defense spending, Bloomberg reported on June 27.

28 June 2024, 01:15 PM

Ukraine faces catastrophic defense funding shortfall, says finance committee chairman

Ukraine is facing a catastrophic situation in financing its armed forces, said Danylo Hetmantsev, Chairman of the parliamentary Finance Committee.

26 June 2024, 04:11 PM

Russian parliament approves historic tax hike

The State Duma of the Russian Federation has approved in the first reading a package of amendments that introduces the largest tax hike in the history of the country, independent Russian newspaper The Moscow Times reported on June 20.

20 June 2024, 11:26 PM

20+ NATO countries to allocate at least 2% of GDP to defense in 2024 - Stoltenberg

Over 20 NATO members will meet the Alliance's target of allocating at least 2% of GDP to defense, NATO Secretary General Jens Stoltenberg said at the meeting with US President Joe Biden at the White House on June 17, Reuters reported.

18 June 2024, 09:50 AM

NATO member orders $325 million in artillery shells from Germany’s Rheinmetall

A NATO member has ordered $325 million worth of artillery ammunition from Rheinmetall, with deliveries scheduled from 2024 to 2028, the German arms company reported on May 24.

24 May 2024, 07:20 PM

Arming Ukraine could take up to two years – Sweden’s Defense Minister

22 May 2024, 02:48 PM

Cameron urges NATO allies to increase defense spending to 2.5% of GDP

European allies have to invest more in defense, setting a target of spending 2.5% of GDP, David Cameron, the UK's Foreign Secretary said, Politico reported.

10 May 2024, 11:06 AM

Canada sets aside funding over five years for lethal and humanitarian aid to Ukraine

Canadian Finance Minister Chrystia Freeland introduced the 2024 federal budget, including funding for Ukraine, as the country plans to increase military spending to 1.76% of GDP by 2030, CP24 reported.

17 April 2024, 09:42 AM

Polish President Duda urges NATO states to increase defense spending to 3% of GDP

Polish President Andrzej Duda has made a bold proposal to NATO member states, advocating for an increase in defense spending from 2% to 3% of GDP, Rzeczpospolita reported on April 4.

4 April 2024, 05:50 PM

Polish PM Tusk presses EU for greater defense commitment

Europe entered a "pre-war era" and experiencing "the most critical moment in history since World War II", Polish Prime Minister Donald Tusk said March 29.

29 March 2024, 05:26 PM

Pentagon plans to allocate $300 million to Ukraine as part of its 2025 U.S. Defense Budget

The Pentagon's budget request for fiscal year 2025 includes a $300 million provision for Ukraine, according to a document published on the Pentagon's website on March 11.

12 March 2024, 09:40 AM

EU should increase its defense and industrial potential in next five years – Ursula von der Leyen

The European Union must significantly increase its defense-industrial potential in the next five years. This requires increasing spending, stated Ursula von der Leyen, President of the European Commission, in her speech announcing her candidacy for the position of EC president from the European People’s Party, Cotidianul.ro reported on March 7.

7 March 2024, 06:15 PM

defense spending

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