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Budget draft 2017: 5% of GDP is allocated to the Ukrainian army

Budget draft 2017: 5% of GDP is allocated to the Ukrainian armyThe Cabinet outlined prioritised spheres in the state budget, including Road Fund, the Ukrainian army and farming, UNIAN.

The Cabinet of Ministers of Ukraine within the confines of the formation of the state budget draft for 2017 has identified priority areas for the state development and the estimated funding of the economy key sectors.

The Prime Minister of Ukraine Vladimir Groisman said at a Cabinet meeting, that the primary budget priority is financing of the army and security which should be no less than 5 % of GDP.

The second most important priority is the development of roads and infrastructure .

According to government estimates, the volume of financing of the Road Fund in 2017 will amount to no less than UAH14bln, excluding funds of international financial organizations.

Special attention is to be paid to the government support of farms, allocating for this purpose no less than UAH5.5bln.

Moreover, the Cabinet will propose to increase the funding of diplomatic missions of Ukraine in 2017.

It also plans to form a network of the Ukrainian trade offices abroad by the end of this year, that will be an effective tool to promote and to support Ukrainian products on the international markets.
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