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. 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 Albatross jet trainers and MiG-29 fighter jets. Read full text here.
