President of Ukraine Volodymyr Zelenskyy on Monday, October 9, signed decree No. 682/2023, which puts into force the decision of the National Security and Defense Council (NSDC) of Ukraine on financing the defense sector in 2024.

The corresponding document was published on the president's website.

According to the text of the NSDC decision, the Cabinet of Ministers of Ukraine is entrusted, in the course of finalizing the draft law on the state budget of Ukraine for 2024, with a total financial resource for ensuring national security and defense of Ukraine in the amount of at least 21.6% of GDP for the security and defense sector of Ukraine. At the same time, funding for the needs of the security and defense sector should be provided in the amount of at least UAH 1,692,613.0 million.

In addition, the government has been instructed to ensure an increase in spending on national security and defense of Ukraine, taking into account the military-political situation and the requirements of budget legislation, as well as to take measures in 2024 to ensure priority funding for the activities of subjects of the security and defense sector of Ukraine.

The security and defense sector authorities are instructed to take measures to reduce receivables for the implementation of government contracts for the procurement of goods, works and services for defense purposes and to prevent the formation of overdue receivables, ensure proper organization of claims and litigation work in order to reduce overdue receivables, as well as to strengthen financial discipline in the management of budgetary allocations and ensuring the targeted and effective use of the amount of funds determined by the budget.