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Ukrainian president approves defense budget increase by $250 million

August 11, 2015, 17:02 UTC+3 KIEV

Additional funds will be allocated to finance the military operation in Ukraine’s troubled Donbas

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© Mykola Lazarenko/Press Office of the President of Ukraine/TASS

KIEV, August 11. /TASS/. Ukrainian President Petro Poroshenko has signed a law under which defense spending in the Ukrainian budget for this year will be increased by 5.3 billion hryvnias ($250 million), the press service of the Ukrainian parliament reports.

Under the law, an additional 5.299 billion hryvnias (about $241 million at the current exchange rate) will be allocated additionally to finance the military operation in Ukraine’s troubled Donbas.

A total of 5.14 billion hryvnias ($233.7 million) is channeled to finance immediate needs of the Defense Ministry as mobilization in Ukraine continues. Besides, 158.7 million hrivnias ($7.2 million) will go to finance nutrition needs of other power wielding agencies.

The Verkhovna Rada (parliament) passed this law on July 17.

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