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| Wednesday,
January 25, 2012, 03:53 PM |
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| Ukraine
will increase its military budget by around 30 percent for 2012. |
Ukraine’s
2012 military spending will increase by around 30 percent, to about $2
billion or 1.1 percent of GDP, the Ukrainian Defense Ministry’s
financial department said on Wednesday, January 25, 2012.
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Ukrainian army
armoured vehicles during military parade in Kiev.
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The
ministry expects to spend about $120 million for purchases and modernization
of military equipment, as well as scientific and military design projects,
including the production of L-39 Albatros jet trainers and MiG-29 fighter
jets. Ukraine’s existing fleet of MiG-29, L-39 and Su-25 close air
support aircrafts will also be modernized.
Head of Ukrainian Defense Ministry’s Financial Department Lt. Gen.
Yvan Marko said 21 jets, five helicopters and 612 vehicles will be repaired
and modernized this year.
Ukraine’s 2012 state defense order will stand at $184 million, four
times more than last year, including $54 million to build a corvette-class
ship and $13 million for the construction of the Sapsan multifunctional
missile system.
Ukraine’s military budget amounted to 0.8 percent of GDP on average
over the past few years, substantially less than the average 1.3 percent
of other Eastern European states.
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