Ukraine plans to raise its defense budget by almost three times to 3 percent of the gross domestic product (GDP) in 2015, a senior military official said here Tuesday.

"The latest presidential decree tasked the Finance Ministry to provide armed forces with funds equivalent to 3 percent of GDP," Vyacheslav Salakhov, a representative of Finance Department at the Defense Ministry told reporters.

He said that the increase would enhance the capabilities of the Ukrainian army, which currently largely relies on volunteers, who donate money.

"We need these funds to ensure financing of the armed forces not on the leftover principle, but on the principle of priority," Salakhov said.

In 2014, Ukraine's defense spending is expected to reach 1.72 billion U.S. dollars or around 1.02 percent of the country's GDP. Endite

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