Copyright © 2024

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

Ukraine lacks USD 10 billion to contract all domestic weapons production capabilities — Minister

Ukrainian defense industry's first cruise missile Neptun
A test launch of the first Ukrainian-made cruise missile Neptun. 17 August 2018, Odesa Oblast. Photo: Youtube/КБ Луч
Ukraine lacks USD 10 billion to contract all domestic weapons production capabilities — Minister

This year’s budget revenue will allow to contract the domestic weapons production worth $10 billion, while the government hopes to attract another $10 billion abroad.

The total annual capacity of Ukraine’s rapidly developing weapons manufacturers exceeds $20 billion. At the same time, the Ukrainian government can contact only weapons worth $10 billion in total while 100% of the national budget is already directed to defense, including soldiers’ salaries and basic needs such as fuel, food and uniforms.

Ukraine squeezes every last drop for defense in 2024 budget, Russia still 2.5x more

The gap between the capabilities of Ukrainian arms production companies and the financing available for 2024 amounts to 10 billion dollars. This was stated at the Defense Industry Forum in Brussels by Oleksandr Kamyshin, Minister of Strategic Industries of Ukraine, Radio Liberty reports.

The Minister called on partners to invest in Ukrainian arms production.

“Our main task is to find additional funding for the defense forces in Ukraine. My task is to get this financing for production in Ukraine since we already have these capacities. We have additional non-contracted capacities, and we want them to be financed at the expense of European funds,” said Kamyshin.

The Minister of Strategic Industries added that the government has already contracted domestic weapons worth $6 billion and plans to conclude contracts for an additional $4 billion in 2024.

Denmark and Canada became the first to join the Zbroyari initiative of the Ukrainian government and contributed to the purchase of weapons for the Ukrainian army from Ukrainian manufacturers. Now the government is looking for additional funding that can be directed to different types of weapons, “starting with armored vehicles and ending with systems of unmanned aerial and ground systems.”

Denmark has committed  $28.5 million to Ukraine as part of a new aid package, with funds specifically earmarked for the procurement of weapons produced by Ukrainian manufacturers, while Canada has committed $2.1 million.

The “ZBROYARI: Manufacturing Freedom” campaign aims to raise $10 billion for Ukrainian weapons production this year.

Read also:

You could close this page. Or you could join our community and help us produce more materials like this.  We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter

Please leave your suggestions or corrections here

    Will the West continue to support Ukraine?
    • Know what moves the world.
    • Stay informed with Kompreno.
    • Get quality journalism from across Europe.
    Special discount
    for Euromaidan Press readers
    Euromaidan Press

    We are an independent media outlet that relies solely on advertising revenue to sustain itself. We do not endorse or promote any products or services for financial gain. Therefore, we kindly ask for your support by disabling your ad blocker. Your assistance helps us continue providing quality content. Thank you!

    Related Posts