20 Dec '14, 8pm

#Poroshenko orders new #mobilization, #military spending increase

#Poroshenko orders new #mobilization, #military spending increase

Ukraine is to hike military spending and undergo further mobilization in 2015, according to President Petro Poroshenko. In 2015 the level of funding for the defense and security sector from the national budget would be close to five percent of GDP, Poroshenko said on Dec. 20 at the National Security and Defense Council meeting. The planned military budget of Hr 86 billion ($5.4 billion) considerably exceeds this year’s military spending which totaled Hr 54 billion, or around 3.4 percent of the country’s budget. This is seen as a a heavy burden for the country heavily hit by economic crisis and sharp hryvna devaluation in the aftermath of Russia’s annexation of Crimea in March and ongoing war with Russia-backed separatist militants in the east of Ukraine. On Dec. 19, London-based Standard & Poor’s ratings agency downgraded its long-term foreign currency sovereign credit rat...

Full article: http://www.kyivpost.com/content/ukraine/poroshenko-orders...

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#Poroshenko orders new #mobilization, #military...

twitter.com 20 Dec '14, 8pm

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