Ukraine's Fight for Funds: The Cost of War

Ukraine is facing a huge financial challenge. By 2026, the country will need at least $120 billion just for defense. This is a lot of money, but it's what's needed to keep the country safe. The defense minister, Denys Shmyhal, made this announcement. He said the money is crucial. It will help maintain defense lines, produce more drones and weapons, and protect the skies. Most importantly, it will help deter further Russian aggression. Since Russia's invasion in February 2022, Ukraine's defense spending has skyrocketed. Now, more than 31% of the country's gross domestic product goes to the army. This year alone, the state budget plans to spend at least $63 billion on defense. This doesn't even include the weapons and support from Western allies. The cost of the war keeps rising. In 2025, a single day of war is expected to cost $172 million. That's up from about $140 million in 2024. These costs cover soldiers' wages, weapons, and payments to those injured or killed in battle. Ukraine is looking for ways to fund this massive expense. Officials have appealed to allies to find ways to use frozen Russian assets to help Kyiv's finances. But so far, no additional funding sources have been specified. The war has intensified in recent months. Fierce fighting is happening along more than 1, 000 km of the frontline. Russian troops are also ramping up their air attacks on Ukrainian cities and towns far behind the frontline. Diplomatic efforts to end the war have not yet brought any tangible results. This week, tensions reached a new level when NATO fighter jets had to scramble to shoot down multiple Russian drones that violated Polish airspace. Until a diplomatic solution is reached, Ukraine will need to keep fighting. And to keep fighting, they need money. Defense has an enormous financial cost, and Ukraine is doing everything it can to meet that cost.