Ukrainian defence industry increased production capacity to US$50bn

Production capacities of Ukraine's military-industrial complex have increased fiftyfold to UP$50 billion during the full-scale war.

Source: Defence Minister's adviser Hanna Hvozdiar at the Munich Security Conference

Details: Hvozdiar said that domestic manufacturers are already meeting over 50% of the defence forces' needs for weapons.

Quote: "Ukraine has already proven that it is capable of rapidly scaling up defence production even during ongoing full-scale war. We are becoming a reliable partner that helps Europe build a new defence system, in particular through creating joint production facilities to strengthen both our own capacity and that of our partners."

More details: In January, the Ministry of Defence of Ukraine stated that the state is allocating UAH 1 billion (approx. US$23.1 million) to partially compensate interest on loans and leasing for defence-industry companies.

Denys Shmyhal, then defence minister, stated that this decision enables weapons manufacturers to scale up production, invest in modern equipment and move faster from development to serial production of weapons.

In addition, the defence ministry reported that Ukraine's military-industrial complex received more than US$6 billion in foreign financing over the past year.

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