Ukraine's Security Council Proposes $4.4Bln Spending on Defense in 2016

Ukraine's National Security and Defense Council approved on Wednesday a proposal to allocate at least 100 billion hryvnia (some $4.4 billion) to ensure the level of security and defense spending in 2016 at five percent of the country's GDP, the council's press service said.

KIEV (Sputnik) — According to the statement, the total allocation from the state budget is estimated at 100 billion hryvnia, while funding from other sources has also been planned.

"As a result of today's meeting, a decision was adopted to recommend to the Cabinet to ensure the spending [in 2016] in the security and defense sector at the level of five percent of the GDP, with at least three percent on defense alone," the press service said in a statement.