In the NSDC told how Kiev plans to spend on defense in 2018

© AFP 2017 / Vasily MaximovВид on Khreschatyk street in Kiev, Ukraine. Archival photoIn the NSDC told how Kiev plans to spend on defense in 2018© 2017 AFP / Vasily Maximov

Ukraine to 2018 intends to keep defense spending at least 5% of GDP, the defense budget will be approved at the meeting of the Council of national security and defense Council (NSDC) in early September, said the NSDC Secretary Oleksandr Turchynov.

As reported in the press service of the NSDC Turchynov noted that the formation of the defence budget takes place according to the Strategy of national security of Ukraine «and will not be less than 5% of the gross domestic product.»

«This position becomes an axiom for the budget policy of our state», — he stressed, noting that the defense budget in 2018 will differ realism, «where every penny has planned real content».

«In addition, the difference in this budget is the fact that the main financing will be for the General Fund, which will be at the level 156,4 billion. A special Fund will be formed solely on the basis of proposals of power ministries and departments and will be about 6.3 billion hryvnias, that is the total funding must be at least 162,7 billion hryvnia (6.4 billion U.S. dollars at the current exchange rate),» said Secretary of the NSDC.

According to Turchynov, it is necessary to significantly improve the efficiency of the Ukrainian defense enterprises. «We need modern weapons, and we must expect this question in the first place, on their own strength. It is therefore necessary to provide funding for the introduction of new technologies and the modernization of the leading defense enterprises,» he said, adding that the Concept of development of the sector of security and defense of Ukraine provides for such funding at 0.5% of GDP.

«The defense budget should ensure funding for the priority task of strengthening the defense and security of the country», — said Turchinov, noting that after clarification of the indicators of the defence budget they will be approved at the meeting of the Council, to be held in early September.

The financing of defence and security in the state budget of Ukraine for 2017 is 136 billion ($5.1 billion), or 5% of GDP.

© RIA Novosti / Press service of the President to Ukrainepreteen in Photobacterium in Kiev. Archival photoIn the NSDC told how Kiev plans to spend on defense in 2018© RIA Novosti / Press service of the President to Ukrainepreteen in Photobacterium in Kiev. Archive photo

 

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