The Ukrainian authorities will allocate over 55 billion hryvnias to the production of weapons and military equipment next year.
Points of attention
- As noted by the Minister of Strategic Industry Herman Smetanin, this amount exceeds the allocation for 2024 and will be directed to the development of production and new technologies.
- The administration of US President Joe Biden will provide Ukraine with more than 500 interceptor missiles for anti-missile and air defense systems.
- The decision to allocate significant funds for the production of weapons indicates the rapid development of the defense industry in Ukraine.
Ukraine plans to produce even more weapons
This was announced by the Minister of Strategic Industry Herman Smetanin.
According to him, during the meeting of the Cabinet of Ministers, the project of the State Budget for 2025 was supported.
In total, more than 55 billion hryvnias were allocated for the production of weapons and military equipment.
What is important to understand is more than what was allocated for this year:
54.55 billion These funds will be used to develop production, develop and implement new technologies, increase production capacity for the production of defense products. This is more than was allocated for 2024 — about 51 billion, — notes Herman Smetanin.
In addition, it is emphasized that 500 million is allocated to the program of affordable loans for defense enterprises.
According to the minister, this program was created in 2024. It enables producers to take loans at 5% per annum. The remaining interest will be covered by the state budget.
Thank you to the Government for supporting the defense industry manufacturers. A vote in the Verkhovna Rada is ahead, Smetanin added.
What is known about Biden's new decision regarding Ukraine
Recently, The Wall Street Journal learned that the administration of US President Joe Biden will provide Ukraine with more than 500 interceptor missiles.
What is important to understand is that they are intended for Patriot missile defense systems and NASAMS air defense systems.
According to insiders, the missiles should arrive in Ukraine in the coming weeks.
Official Washington hopes that these supplies will satisfy Ukraine's needs for air defense equipment by December 2024.
It is important to understand that before the elections, the White House intended to deliver the rest of the aid to Ukraine by April.
