Ukrinform
November 11, 2014
Army funding will be tripled in 2015 – Defense Ministry
KYIV: Funding of the Armed Forces of Ukraine for 2015 is envisaged at 3% of gross domestic product (GDP).
This was announced during a roundtable “Battle for Ukraine: banks are at war” at Ukrinform by representative of the Finance Department of the Defense Ministry Colonel Viacheslav Salakhov, a Ukrinform correspondent reports.
“The final decree of the President of Ukraine approved the decision of the National Security and Defense Council of Ukraine, which clearly defines the objectives of the Finance Ministry for 2015 – to provide the funding of the Armed Forces of Ukraine at the level of 3% of GDP,” he informed.
According to Salakhov, the Defense Ministry counts on these funds. “The Armed Forces of Ukraine should not be financed according to the left-over principle, but by the principle of priority and the need to address the problems of national defense,” he said.
Recall that under the program of reforms “Strategy 2020,” it is planned to increase the military spending in Ukraine up to 5% of GDP in 2020.
Currently the financing of the army is 1.02% of GDP.
Source