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  2017

 Defense budget for 2016 set at 5 percent of GDP, - President Poroshenko signs NSDC resolution

President of Ukraine Petro Poroshenko has signed a decree on resolution of the National Security and Defense Council of Ukraine "On the bill of Ukraine "On State Budget of Ukraine for 2016" in articles related to the national security and defense of Ukraine."

This is reported by Censor.NET citing Ukrinform.

The National Security and Defense Council proposed the Cabinet of Ministers to include the national security and defense expenses in the bill "On State Budget of Ukraine for 2016" in the amount of 5 percent of GDP for the defense and security sector of Ukraine, while financing of this sector is expected in the amount of no less than UAH 100 billion from the general budget funds.

Expenses on development of weapons and military equipment for the Ukrainian army under NATO standards have been stipulated by the bill. The document also sets priority directions for financing in 2016.

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

In addition, Foreign Ministry together with Defense Ministry and the Security Service are ordered to employ more resources of NATO's trust funds in 2016, as well as other international and humanitarian aid, with the purpose of enhancement of Ukraine's defense potential.

The NSDC decision orders Finance Ministry to control budget legislation implementation in the national security and defense sector and timely react to violations of this legislation.

In addition, Poroshenko signed the NSDC resolution "On supplying relevant information to state authorities'' dated Nov. 11, 2015.

The laws come into effect on the day of signing.
 
 
 
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