Ukrainian defence sector’s potential could reach US$20 billion with investment
Pravda Ukraine
Rustem Umierov, Minister of Defence of Ukraine, has stated that the Ukrainian defence sector has the potential to considerably enhance production, but this requires foreign investment.
Source: Umierov at a panel discussion at the Yalta European Strategy forum
Details: Umierov noted that in 2023 the production potential of the private and public sectors of Ukraine’s defence industry amounted to US$7 billion. The minister said that in 2025, this figure could triple.
Quote: “In 2025, we can triple this figure [the production potential of the defence industry – ed.]. According to our estimates, with additional funding, the potential of defence production can reach US$20 billion,” Umierov said.
The minister added that Ukraine’s defence sector has capabilities that much exceed the amount of investment that the country can provide on its own.
Background: In 2025, the government expects GDP growth to decelerate, average incomes and inflation to rise, and unemployment to fall.
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