Ukraine's defense and security financing will reach some 200 billion hryvnias (about $7.1 billion) next year, Secretary of the National Security and Defense Council of Ukraine (NSDC) Oleksandr Turchynov said on Monday.
KIEV (Pakistan Point News / Sputnik - 27th August, 2018) Ukraine's defense and security financing will reach some 200 billion hryvnias (about $7.1 billion) next year, Secretary of the National Security and Defense Council of Ukraine (NSDC) Oleksandr Turchynov said on Monday.
"According to the Ukrainian cabinet's forecast, [Ukraine's] GDP will amount to 3.946 billion hryvnias in 2019. Therefore the financing of the security and defense sector of Ukraine, which should be not less than 5% of GDP, will amount to about 200 billion hryvnias," Turchynov said at a meeting devoted to the country's defense budget for 2019.
According to Turchynov, the development and purchase of armored vehicles, modern artillery armament, high-precision missile weapons and ammunition were among the priorities for Ukraine.
The NSDC secretary added that once established, the budget would be approved at an NSDC meeting and submitted to the Ukrainian cabinet for consideration.
