Feb 19 β€’ 16:48 UTC πŸ‡ΊπŸ‡¦ Ukraine Ukrainska Pravda

Ukrainian defence industry increased production capacity to US$50bn

Ukraine's defence industry has significantly ramped up its production capacity to US$50 billion amidst the ongoing war.

Ukraine's defence industry has seen a dramatic increase in production capacity, now reaching US$50 billion, as reported by Defence Minister's adviser Hanna Hvozdiar at the Munich Security Conference. This increase represents a fiftyfold boost during the current full-scale conflict, highlighting the nation's ability to adapt and respond to war conditions effectively. Domestic manufacturers are vital to this effort, currently fulfilling more than 50% of the armed forces' weaponry needs, which indicates a major shift in Ukraine’s military self-sufficiency.

Hvozdiar emphasized Ukraine's evolving role in the European defence landscape, noting the potential for partnerships and joint production facilities that could enhance both Ukraine's and its allies' military capabilities. This strategic cooperation aims to build a more robust defence framework in Europe, especially as Ukraine continues to demonstrate rapid scalability in defence production, regardless of the challenges presented by the ongoing war.

Additionally, the Ukrainian government is supporting its defence industry through financial measures, including a UAH 1 billion allocation (approximately US$23.1 million) aimed at subsidizing interest on loans and leasing for defence-sector businesses. This financial commitment underscores an increasing recognition of the importance of a resilient and technologically advanced military-industrial complex, positioning Ukraine as a key player in regional security efforts alongside its European partners.

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