The Czech Republic received more than €700 million in profit from supporting Ukraine

The Czech Republic has earned over €700 million in support of Ukraine Česká Noviny

The Czech Republic received over €720 million in net profit thanks to support programmes for Ukraine. This was reported by the Česká Noviny, which published updated budget estimates of the government.

How the profit was formed

According to the Czech Ministry of Finance:

• 3.85 billion euros - The Czech Republic's total expenditures on assistance to Ukraine (social support, equipment, military hardware, adaptation programmes);

• 3.27 billion euros - taxes and social contributions paid by Ukrainian refugees and employed Ukrainian citizens;

• 1.3 billion euros - compensation from the EU for military equipment transferred to Ukraine;

• 720 million euros - a positive balance for the Czech state budget.

Thus, all the costs of supporting Ukraine were fully compensated, and the state even received an additional financial benefit.

What they say in Prague

Czech Prime Minister Petr Fiala has previously stated that supporting Ukraine is not only a moral obligation, but also a A profitable investment in your own security and economy. Ukrainians have significantly strengthened the labour market, reduced labour shortages and increased tax revenues.

The government also emphasises that the economic impact continues to grow.

Context.

The Czech Republic remains one of Ukraine's most active allies in terms of military and technical assistance. The country has supplied Ukraine with tanks, artillery and ammunition and has taken in a significant number of Ukrainian refugees.

In the EU, the Czech example is often cited as proof that aid to Ukraine is not a financial burden, It can be profitable.