🇺🇦⚡Ukraine spent more than $8 billion on military operations against Russia
In an interview with Reuters, Ukrainian Finance Minister Serhiy Marchenko said that Ukraine has already spent UAH 245.1 billion (about $8.3 billion) on waging war with Russia.
According to Marchenko, funds pledged for development went to everything from the purchase and repair of weapons to emergency assistance to internally displaced persons. The government collected only 60% of the planned tax revenues for April, in May-June this figure may drop to the level of 45-50%.
“Kyiv needs foreign financial support as Ukraine is forced to send billions of dollars for emergency expenses. According to the Ministry of Finance, $5 billion a month is needed to finance the state budget,” the minister stressed.
Will the Biden administration continue to pump billions into the Ukraine on a monthly basis? The $350 Billion COVID relief injected into the U.S. economy sent inflation soaring (the money stayed in America to stimulate America), stripping out $40 billion every few months and sending it to a foreign country, may end up having an even more devastating effect on the U.S. economy.
