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Ukrainian President Petro Poroshenko has announced that, as was proposed by the Cabinet of Ministers, UAH 163 billion, or US$6.3 billion, will be allocated for security and defense of Ukraine in 2018, which is UAH 20 billion ($767 million) up against 2017, according to the presidential press service, referring to Poroshenko's speech at a meeting of the National Security and Defense Council in Kyiv on September 13.
"In accordance with the proposals of Ukraine's Cabinet of Ministers, UAH 163 billion is planned to be allocated for the needs of national security and defense in 2018, which is UAH 20 billion more than in the current year," the head of state said.
Read alsoUkraine doubles spending on arms, military equipment in 2017Poroshenko stressed that the National Security Strategy foresees at least 5% of GDP for the annual budgetary financing of the country's defense and security sector.
As was reported, the Cabinet of Ministers said that the draft state budget for 2018 is based the forecast of economic growth at 3%, while expenses for defense and security, as well as education, healthcare and targeted programs for production development will remain unchanged.