Finance Minister Serhiy Marchenko said the budget prioritizes defense expenditures, social support and economic development, Xinhua reported.

Budget revenues are projected to reach 2.9 trillion hryvnias (around 68.7 billion US dollars) next year. The main sources of revenue will be import VAT, personal income tax and military levy.

State expenditures are expected to total 4.8 trillion hryvnias, including 2.8 trillion hryvnias for defense.

Other priority spending areas include social welfare, education and healthcare.

Ukraine plans to secure about 65.9 billion dollars in external financing next year, which would help to cover the budget deficit.