Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's correspondent: Two were martyred in an initial toll of the Israeli drone strike that targeted the al-Asira neighborhood in the city of Baalbek, eastern Lebanon
Al Mayadeen's correspondent: An Israeli drone strike targeted the al-Asira neighborhood east of Baalbek, eastern Lebanon
Sheikh Naim Qassem to the pager attack survivors: You are the greatest resistance. Know that 'Israel' will fall because it embodies aggression, crime, and occupation; victory is truly yours
Sheikh Qassem to the pager attack survivors: The value of what you are doing despite your wounds is immense, and here you are, treading the path of the Master of Nation's Martyrs and the leaders
Sheikh Qassem to the pager attack survivors: You are moving forward with insight deeper than sight itself. The enemy sought to eliminate your role in the battle, yet you remain steadfast and continue the fight
Hezbollah Secretary-General Sheikh Naim Qassem to the pager attack survivors one year later: You are healing from your wounds and rising above them. You have successfully passed the test
Palestinian media: Reports of stabbing operation in occupied al-Quds.
Israeli media: Sirens blare in Arava in South, near Ramon Airport.
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country

The high cost of war: Ukraine's $100 million daily battle

  • By Al Mayadeen English
  • Source: Agencies
  • 4 Sep 2023 17:10
  • 2 Shares
3 Min Read

As Ukraine grapples with the relentless and costly war with Russia, the outgoing Ukrainian Defense Minister reveals that the nation is bearing an astronomical daily financial burden of $100 million.

  • x
  • Ukraine's Minister of Defence Oleksiy Reznikov attends a meeting at the NATO headquarters in Brussels, June 15. (AFP-Yonhap)
    Ukraine's Minister of Defense Oleksii Reznikov attends a meeting at the NATO headquarters in Brussels, on June 15 (AFP/Yonhap)

Outgoing Ukrainian Defense Minister Oleksii Reznikov stated that Ukraine is bearing daily costs of $100 million due to the war with Russia, adding that the assistance provided by volunteers since February 2022 has only accounted for 3% of the total funds used.

Reznikov pointed out that when one compares the funds raised by various volunteer foundations and the state's daily spending of $100 million, it becomes apparent how significant the financial burden of the war is. Prime Minister Denys Shmyhal previously stated that Ukraine was using 100% of its tax income for military needs, and aid from donors and allies was also being directed toward the defense sector.

"A day of war costs us $100 million. Now take the budgets of all the respectable large volunteer foundations and see how much they raise. And take the state, which spends $100 million per day in general. Just think about it," Reznikov said, as quoted by the Ukrinform news agency.

This comes just one day after President Volodymyr Zelensky announced that Defense Minister Oleksii Reznikov had been sacked from his position.

Rustem Umerov, a Crimean Tatar, would be replacing Reznikov, Zelensky also announced. Umerov has been the head of Ukraine's State Property Fund since September 2022 and has been a main driver in some major war negotiations like the Black Sea grain deal.

Related News

Zelensky dismisses Defense Minister, names Rustem Umerov in his stead

Kiev calls on Tokyo to supply electronic warfare equipment: Minister

A few days ago, Zelensky's alleged anti-corruption campaign fueled rumors that he may fire Ukraine's Defense Minister following allegations of misconduct in the procurement of military supplies.

Read more: Western military aid to Kiev since Feb 2022 tops $100bln; half from US

Ukraine's economic struggles intensify as 2023 budget reveals staggering deficit

Ukraine is grappling with a severe fiscal challenge as it faces a substantial budget deficit in its 2023 financial plan. The deficit is estimated at a staggering 1.296 trillion hryvnias, equivalent to approximately $35.1 billion. The draft budget for the year outlines expected revenues of 1.28 trillion hryvnias against expenses totaling 2.57 trillion hryvnias, resulting in a monthly budget deficit of around $3 billion. To bridge this financial gap, Ukraine intends to rely on foreign loans.

This financial strain is not new for Ukraine, as it has been confronting consistent monthly budget deficits of approximately $5 billion since the commencement of the military conflict. A significant portion of these deficits has been covered through foreign loans and grants, with the bulk of these funds being allocated to meet the nation's pressing military needs. Meanwhile, the Ukrainian Finance Ministry reported a substantial increase in the country's state debt, with a staggering $4 billion added in just the month of July. This pushed the total state debt to surpass an alarming $132 billion.

Moreover, the outlook for the following year, 2024, suggests that Ukraine may continue to grapple with a budget deficit at a similar level to that of the current year, as indicated by the Ukrainian Finance Ministry. 

Read more: Ukraine losses against Russia could amount to $500bln: Kiev

  • oleksii Reznikov
  • budget deficit
  • Russia
  • Ukraine

Most Read

Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025
UKLFI’s latest faux pas, like "Israel’s" recent failed attempt at regime change in Iran, is unambiguously indicative of a flailing entity on the verge of extinction. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

Zionist lawfare operation facing collapse?

  • Opinion
  • 13 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A Hezbollah supporter who lost his sight in a pager attack carried out by "Israel" on Sept. 17, 2024, covers his eyes with a red headband inscribed with the name "Hussein" during Ashoura, July 6, 2025 (AP)
Politics

'We Have Recovered': Lebanon marks 1st anniversary of Pager Attack

The Arab neighborhood of El Za'im, on the outskirts of east Occupied Al-Quds in the West Bank, near where Israeli government says housing units will be built as part of the E1 settlement project, Thursday, August 21, 2025. (AP Photo/Ohad Zwigenberg)
Palestine

'Israel’s' deliberate policies drive West Bank economy toward collapse

Ben & Jerry's ice cream shop, Wednesday, Feb. 26, 2025, in Cambridge, Mass. (AP Photo/Charles Krupa)
Politics

Ben & Jerry’s co-founder resigns over parent company curbing activism

Trump’s approval rating falls to new low in second term: Poll
US & Canada

Trump’s approval rating falls to new low in second term: Poll

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS