KIEV, Nov. 3 (Xinhua) -- The Ukrainian parliament on Wednesday approved the state budget for next year, the country's Finance Ministry reported.

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

Budget revenues are projected to reach 2.9 trillion hryvnias (around 68.7 billion U.S. 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.