“Ukraine’s economy, largely dependent on foreign support, can finance only half of its needs in military production, noted Herman Smetanin.”, — write: www.unian.ua
Ukraine’s economy, largely dependent on foreign support, can finance only half of its needs in military production, noted Herman Smetanin.
Ukraine seeks to increase weapons production / UNIAN collage, photo t.me/herman_smetanin_mspUkraine wants to raise up to $20 billion to increase production of weapons, including long-range missiles, air defense equipment and drones. This was stated by the country’s Minister of Strategic Industries Herman Smetanin on the sidelines of the World Economic Forum in Davos, Bloomberg reports.According to him, financing remains the main weak link, since Ukraine’s economy, which is largely dependent on foreign support, can finance only half of its needs in military production. Currently, 40% of weapons for the Defense Forces are produced in Ukraine, Smetanin said.
“In most aspects, we have more capacity than funding. We need to find 15 to 20 billion dollars worldwide to increase production,” the minister said.
As Bloomberg pointed out, Kyiv is seeking military financing through direct procurement under the so-called “Danish model,” when allied governments pay for ammunition produced at Ukrainian enterprises. Ukraine has also established joint ventures in the production of weapons with Western companies, including Germany’s Rheinmetall AG and Britain’s BAE Systems.
Weapons production in Ukraine – what was reportedIt will be recalled that Smetanin previously announced that by 2025, Ukraine will allocate over 55 billion hryvnias for the production of weapons and military equipment. 54.55 billion of this amount is intended for the development of production, the development and implementation of new technologies, as well as the expansion of production capacities.
The Minister of Defense of Ukraine, Rustem Umerov, stated that at the beginning of 2025, Ukraine will receive a second tranche of military aid from the EU in the amount of 1.9 billion euros, which will be used for the purchase of ammunition, air defense systems, missiles and support for our defense industry. He also noted that Ukraine will receive up to 500 million euros from NATO as part of the Alliance’s comprehensive package of assistance to Ukraine for 2025.
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