Ukraine's production capacities 3 times higher than 2024 budget for arms procurement

Ukraine has US$6 billion to spend on arms purchases, including from domestic producers, in 2024. These funds are not enough, as Ukraine's production capabilities are three times higher than this budget.

Source: Oleksandr Kamyshin, Minister of Strategic Industries, reported by Interfax-Ukraine

Details: "The entire defence budget for 2024 is about US$40 billion – of this amount, US$30 billion is for salaries and benefits for the military, and the remaining US$10 billion, excluding the cost of fuel and uniforms, is for the purchase of weapons. This is the amount that we have in contracts for our manufacturers, primarily Ukrainian ones, and it is very little, as our production capacity is three times higher," Kamyshin said.

He noted that Ukraine is negotiating with foreign partners to buy Ukrainian military products at their expense, with the subsequent transfer of this equipment and weapons to the Armed Forces of Ukraine.

Kamyshin also said that Ukraine is ready to meet its needs in a number of items through domestic production. In 2024, this will include armoured vehicles, all types of unmanned systems (ground, air and sea), and artillery systems.

Background:

• The Ministry of Defence of Ukraine has 211 billion hryvnias (US$5.3 billion) in open advances for the purchase of weapons, military equipment and other goods for the army.

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