Ukraine to channel $83.5 mln into development of defense industry in 2018


Ukraine's Ministry for Economic Development and Trade plans to channel UAH 2.34 billion, or US$83.5 million, into programs for the development of defense industry in 2018.

Photo from UNIAN

This amount is stipulated in the national budget for 2018, which was posted on the Ukrainian parliament's website.

Read alsoUkraine unveils new Hrim-2 short-range ballistic missile (Photos, video)In particular, UAH 1.95 billion from the general fund of the national budget and UAH 0.39 billion from the special fund will be spent on the development and implementation of new technologies in the defense complex, an increase in production capacity and reform of the sector.

As UNIAN reported, the Defense Ministry's budget in 2018 is set at a record high level of UAH 86 billion, or about US$3 billion.

Since 2016, the Economic Development and Trade Ministry has been authorized to place state orders for the development of production capacities of the defense complex.