The production capacity of Ukraine's defense industry is to be increased sixfold in 2024. This was announced by Prime Minister Denys Shmyhal during a government meeting.

"The production capacity of the Ukrainian defense industry tripled in 2023. The ambitious goal for the current year is to grow six times," he said.

According to the Prime Minister, in 2023, $42.6 billion in external financing was attracted, of which 27% were grants. "The needs for this year are more than $37 billion. We are counting on the help of our partners," he added.

According to him, Ukraine is increasing its own budget revenues, primarily customs and tax revenues. More than UAH 1.1 trillion of taxes, fees and other payments were received by the general fund of the state budget last year.

"We are allocating all these funds for security and defense. This year we plan to spend more than UAH 750 billion on payments to the military. More than UAH 265 billion will be spent on the purchase, production and repair of weapons," Shmyhal said.