Ukraine’s state budget for 2018 provides over $82.3 million of funding for various development projects focused on the defense sector. This number is three times higher than it was in 2017. The funds will be transferred through the Ministry of Economic Development and Trade, Interfax-Ukraine reports.
According to Ukraine’s state budget for 2018 which was published on the official website of the Parliament, the aforementioned total amount will consist of two parts - $69 million will be allocated from the budget’s general fund, while another $13.6 million will come from the special fund. The latter will be financed through the Economic Development and Trade Ministry.
The funds will be spent on the implementation of different national target programs for developing and modernizing the country’s defense sector, creating and introducing new technologies, which would expand existing production facilities in order to allow manufacturing of defense products.
In 2017, the state budget allocated a total of $27.6 million for development programs in the defense sector. This sum included $13.6 million from the general fund and $14 million from the special fund.
In 2016, the Economic Development and Trade Ministry was given the functions of a public contracting authority aimed at creating new and enhancing existing production capacities in the defense sector.