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Ukraine’s Defence Ministry says its 2016 budget to grow to 5% of GDP

September 12, 2015, 5:43 UTC+3 KIEV

In the 2015 budget the Defence Ministry’s share was set at 2.7% of the GDP

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Stepan Poltorak

Stepan Poltorak

© Nikolay Lazarenko/TASS

KIEV, September 12. /TASS/. Ukrainian government has supported an increase in the country’s 2016 defence budget to 5% of the gross domestic product, the director of the Defence Ministry’s social and humanitarian policies department, Valentin Fedichev, has said on television.

"It was the Ukrainian people who provided nearly $2 billion for financing the country’s armed forces, which is a record-large budget over the years of independence. The Cabinet of Ministers backed the increase in the 2016 defence budget to 5% percent of the GDP."

The Defence Ministry in early September asked the government for allocating an equivalent of $4 billion on defence needs in 2016.

Ukrainian President Pyotr Poroshenko said the National Security and Defence Council would consider the issue of increasing defence spending.

In 2014 Ukraine raised its defence budget to 3.4% of the GDP by 15.6% in contrast with the previous year’s. In the 2015 budget the Defence Ministry’s share was set at 2.7% of the GDP. Last May the president signed a new national security strategy envisaging annual defence spending of no less than 5% of the GDP.

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