Ukraine has been living for the fourth consecutive year under extraordinary wartime conditions characterised by profound uncertainty and persistent risks. More than half of the state budget is allocated to war-related needswhile other expenditures remain de facto “frozen” at pre-war levels or are underfunded.
In practice, all domestic budgetary resources are directed towards sustaining the armed forces, whereas international assistance covers social protection and other expenditures. Nevertheless, even under these constraints, Ukraine spends only half as much on the war effort as Russia.
Without international support, Ukraine would be unable either to sustain its defence effort or to meet the essential needs of civilian life. At the same time, there is critical uncertainty regarding financing in 2026 and beyond. Thus, the question of whether Ukraine will be able to continue the war effort in the coming years remains uncertain.
See our report below for further details.
