Security and defense spending in 2018 to grow by 14.8%
Spending on Ukraine's security and defense in 2018 will be increased to UAH 164.9 billion from UAH 143.6 billion projected in the national budget for 2017, Ukrainian Prime Minister Volodymyr Groysman said at a Cabinet meeting on Friday.
"This is absolutely our consolidated position – that of the president of the country as commander-in-chief and all ministries – to increase spending on security and defense this year and it will account for 5% of GDP, and defense alone will receive at least 3%. And there we see a significant increase in spending from UAH 143.6 billion this year to UAH 164.9 billion in 2018, "he said.
According to Groysman, UAH 60 billion will be spent on support of the Armed Forces (increased by UAH 11 billion compared to the 2017 budget); UAH 16.4 billion will be allocated for the development, purchase and modernization of military equipment (increased by UAH 6.6 billion), UAH 63.9 billion for the national police, the national guard, the emergencies service (increased by UAH 10.8 billion).
Advertising
Advertising
MORE ABOUT
Ministry of Finance refuses to equalize tax capacity of communities in 2025 based on population size
19:43, 16.04.2024
Biden requesting $1.5 bln from Congress for 2025 fiscal year to combat Russia’s influence
19:50, 11.03.2024
Measures to increase state budget receipts in 2024 by UAH 44.2 bln include increase in war tax, excise taxes – Ministry of Finance
14:44, 04.03.2024
Ukraine's state budget deficit in Jan 2023 down to UAH 14.9 bln due to lack of funding – Ministry of Finance
16:34, 05.02.2024
Additional needs for mobilization and rearmament in 2024 estimated at approximately UAH 700 bln – head of Rada Budget Committee
17:36, 02.02.2024
LATEST
New EU sanctions will apply to supplies of manganese ore and aluminum oxide to Russia – Latvian authorities
21:07, 03.05.2024
NBU lifts restrictions on import of works, services; introduces other currency concessions
21:01, 03.05.2024
Ukrainian coal could be exported due to shutdown of Centerenergo in Russian heavy shelling – Minister of Energy
19:26, 03.05.2024
NBU requires Getin Holding to sell Idea Bank within six months
10:09, 03.05.2024
DIM company accredits houses under construction in eOselia program