Ukrainian defence sector's potential could reach US$20 billion with investment

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 be three times higher.

Quote: "In 2025, we can triple this figure [the production potential of the defence industry – ed.]. According to our estimates, with additional funding, defence production potential could reach US$20 billion," Umierov said. 

The minister added that Ukraine's defence sector has capabilities that far 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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