Business news from Ukraine

Business news from Ukraine

Germany to allocate another 400 mln euros to purchase weapons for Ukraine

19 September , 2024  

The German government intends to allocate 400 million euros for the purchase of weapons for Ukraine, Stern magazine reported on Thursday.
“The federal government wants to allocate an additional 400 million euros for military support to Ukraine as soon as possible. This follows from a letter from the Ministry of Finance to the Bundestag Budget Committee, which was obtained by the State Tax Administration,” the publication informs.
The money is to be used to purchase air defense systems, drones and protective equipment for the Ukrainian military.
At the same time, according to Stern, State Secretary of the German Ministry of Finance Florian Tonkar warned that “without a significant increase in material support, Ukraine will be defeated.”
The magazine reminds that the German government plans to allocate 1.42 billion euros for military support to Ukraine by the end of 2024. This is 397 million euros more than budgeted, so the Bundestag’s consent is required for additional spending.

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