CONTENT PREVIEW
Industry

Ukraine to spend 3% of GDP on defence in 2020

08 November 2019
Follow

Ukraine will spend 3% of GDP on defence in 2020, totalling UAH136 billion (USD5.539 billion), Defence Minister Andriy Zahorodniuk said during the second reading of Ukraine’s draft state budget during the country’s cabinet of ministers on 5 November.

The spending is part of a wider investment in defence and security totalling UAH245.8 billion, representing 5.45% of GDP. “The budget allocations for the Ministry of Defence for 2020 are planned to be increased for all spending items,” the minister said during the reading.

He added that the total represents a UAH33.8 billion or 16% increase compared with 2019 and that it was the country’s largest budget since it gained independence from the Soviet Union.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes





(137 of 481 words)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT