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Ukraine to Spend Over $5 Billion on Defense in 2015: Security Council

© AP Photo / Markiv Mykhailo / PoolSome 86 billion Ukrainian hryvnias, or about $5.4 billion, in defense and national security funding will be incorporated into Ukraine’s 2015 budget, Secretary of the Ukrainian National Security and Defense Council Oleksandr Turchynov said Saturday.
Some 86 billion Ukrainian hryvnias, or about $5.4 billion, in defense and national security funding will be incorporated into Ukraine’s 2015 budget, Secretary of the Ukrainian National Security and Defense Council Oleksandr Turchynov said Saturday. - Sputnik International
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Secretary of the Ukrainian National Security and Defense Council Oleksandr Turchynov announced Saturday that 86 billion Ukrainian hryvnias, or about $5.4 billion, in defense and national security funding will be allocated to Ukraine’s 2015 budget.

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MOSCOW, December 20 (Sputnik) — Some 86 billion Ukrainian hryvnias, or about $5.4 billion, in defense and national security funding will be incorporated into Ukraine’s 2015 budget, Secretary of the Ukrainian National Security and Defense Council Oleksandr Turchynov said Saturday.

“Out of 86 billion, 80 will be outlined in the budget’s general figures and for 6 billion the government will issue state guarantees for the purchase of weapons, military equipment needed by the armed forces… within the framework of the state defense order,” he said, following a Council meeting, adding that 86 billion hryvnias is a “colossal sum”.

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Ukraine’s military expenditure for the next year will amount to five percent of the gross domestic product, Turchynov explained.

“The defense budget and the budget for security will have a joint volume of 5 percent of the GDP, whereas 3 percent of the GDP is the defense budget and 2 percent is the security budget,” he stated.

An armed conflict started in Ukraine’s eastern regions this spring, when Kiev launched a military offensive against Donetsk and Luhansk independence supporters, who established so-called people’s republics, following the February overthrow of then-president Viktor Yanukovych. Since the signing of a ceasefire agreement in September, the warring sides have accused each other of numerous truce violations.

In 2013, Ukraine’s military budget amounted to 2.9 percent of its GDP, according to World Bank data.

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