Zelensky: Investments in Ukraine’s defense industry will reach $43 billion this year

The head of state said this during a meeting with journalists, an Ukrinform correspondent reports.

"This year we’ve found $43 billion for the defense industry. These are funds that come to support the Ukrainian defense industry, this is the financing of our defense industry," Zelensky said.

He added that he has tasked the government with working to ensure that next year, 0.25% of each partner country’s GDP is directed toward supporting Ukraine’s security and defense sector.

“Next year, we’re signaling to our partners that we aim to reach a contribution level of 0.25% of each partner country’s GDP to support Ukraine’s security and defense industry. This essentially reflects European solidarity. Ukraine is part of Europe’s security, and we want 0.25% of each partner country’s GDP to be directed toward our defense sector and domestic production,” the President noted.

As earlier reported by Ukrinform, Ukraine’s Minister for Strategic Industries Herman Smetanin announced at the EU-Ukraine Defense Industry Forum in Brussels that the country’s defense production capacity grew from $12 billion to $35 billion over the past year. This expansion now enables Ukraine to domestically produce over 30% of the weapons and ammunition used by its defense forces on the battlefield against Russian aggression