Next year, Ukraine will need at least US$120 billion for defence, Defence Minister Denys Shmyhal says.

Source: Shmyhal on Telegram

Quote: “Strategic goals and priorities of Ukraine’s defence are: more Ukrainian-made weapons – 50% – should be procured domestically; more foreign companies willing to cooperate with Ukraine and operate in Ukraine; more arms and non-lethal aid supplies that even neutral countries can provide.”

Details: Shmyhal stressed that “a particular focus is on new deliveries of the most effective means of protecting our sky, especially those capable of intercepting ballistic targets”.

The defence minister added that additional funding is also required for the development of Ukrainian industry, including the production of FPV drones, long-range and interceptor drones.

The figure of US$120 billion is roughly double Ukraine’s defence budget for 2025.

Background: New Ukrainian Prime Minister Yuliia Svyrydenko stated that she is likely to seek additional funding from the International Monetary Fund (IMF), as she plans to strengthen public finances amid the ongoing war with Russia.

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