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 NSDC proposes to approve defense budget for 2016 in the amount of 5% GDP

The security and defense sector budget for 2016 was considered during the session of National Security and Defense Council of Ukraine on Wednesday, Nov. 11.

Further to the discussion, the Cabinet was recommended to provide financing for the defense and security sector in the amount of 5 percent of GDP, taking into consideration the National Security Strategy and Military Doctrine of Ukraine, Censor.NET reports citing the NSDC press service.

At least 3 percent of the gross domestic product must be spent directly on the country's defense sector.

Read more: One of top priorities is contract servicemen wages increase, - Poroshenko at NSDC meeting

The financing provided from the general fund of the state budget will be at least 100 billion hryvnia ($4.15 bln). Moreover, additional funding from special funds and under the state guarantees is planned as well.

The priority strategic military programs to develop and manufacture modern weapons and military equipment, which should be included in the state defense order for 2016, have also been defined at the meeting. The participants noted during this discussion that the state defense order for 2016 will be adopted without delay, immediately after the adoption of the Law on the State Budget of Ukraine for 2016 by the parliament.

In addition, the urgent measures to improve the air defense systems of Ukraine and development of aerospace exploration have been considered behind closed doors.

Read more: Turchynov expects NSDC to approve defense budget for 2016 in the amount of 5% of GDP
 
 
 
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