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Ukraine's defence spending reaches 1.25% of GDP

12-06-2014 13:41

Ukraine's defence spending has now reached 1.25% of GDP, Deputy Director of the finance department of the Defence Ministry of Ukraine Serhiy Vynnyk has said.

"Today, the total financial resource of the Defence Ministry of Ukraine amounts to 20.1 billion Ukrainian hryvnias. This is 1.25% of the country's GDP," he said at a briefing in Kyiv on Thursday. Vynnyk said that the funds were mainly sent to repair, purchase and modernize military equipment, buy fuel, body armour and provisions.