Ukraine’s parliament approves 2027 state budget in first reading

Ukraine's parliament has approved a budget for 2027 prioritizing defense spending amid ongoing conflict with Russia. The budget allocates two-thirds of expenditures to security and defense, with a projected deficit of nearly $37 billion. Prime Minister Serhiy Koretskyi emphasized the need for funding to ensure stability and social commitments. The draft anticipates revenues of $123 billion against expenditures of $159 billion, with significant allocations for defense. Economic growth is projected at 1.3%, with inflation at 8%. The government will revise the draft based on parliamentary feedback before the final reading in November.