Poroshenko approves NSDC proposals for 2017 budget funding for defense at 5% of GDP, UAH 1.1 bln for defense loans repayment

Ukrainian President Petro Poroshenko has endorsed a resolution of the National Security and Defense Council dated September 13 on the proposals to the draft law on the state budget of Ukraine for 2017 as regards the financing of the national security and defense sector of Ukraine, the official presidential website reported on Friday.

The NSDC resolution proposes financing the security and defense sector of Ukraine at 5% of the GDP, including at least 3% of GDP for defense.

The financing of the security and defense sector is proposed at the level no less than UAH 129 billion, including at least UAH 114.8 billion from the general fund of the budget, and UAH 8.468 billion from the special fund of the state budget, including UAH 3 billion from the special fund of the state budget at the expense of the proceeds from the sale of property seized and confiscated by court for corruption offenses.