Kamyshin: Ukrainian defense industry's capabilities already twice as high as funding for 2024

The Ministry of Strategic Industries is working to find additional funding for contracting domestic production, the capacity of which already almost doubles the funding for the next year.

Minister of Strategic Industries of Ukraine Oleksandr Kamyshin said this during a briefing on "Results of the Ministry of Strategic Industry and Ukroboronprom for 2023," an Ukrinform correspondent reports.

"As of today, our capacities are about twice as large as the available funding for the next year. We are working with the Ministry of Defense, the Ministry of Finance, the Prime Minister, the President to find additional funding for this sector. Because we want to load our defense industry, because it is not only faster, it is not only cheaper. This is an important element of our economy - it means jobs, it means taxes," Kamyshin emphasized.

He added that today the lion's share of products sent to the front is made in Ukraine.

"It can be bought at different prices, from different producers - state-owned or private. We are already able to produce enough. The next issue is a systematic increase in production, deficit components and proper financing," the minister said.

As an example, he cited this year's growth in drone production, which was stimulated by the government's program to allocate UAH 40 billion for the purchase of UAVs.

"Under this program, the lion's share of purchases are Ukrainian-made drones. Thanks to this, private manufacturers entered the sector, and state-owned plants joined. Today, we have a plant whose contract for the production of drones exceeds the total amount of other contracts for products it has historically manufactured," the minister added.

As reported, the Cabinet of Ministers has allocated UAH 40 billion this year to invest in Ukrainian drone production.