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Ukroboronprom underfunded, - company’s statement
19:52, 26 January 2017
Ukroboronprom underfunded, - company’s statement

Ukraine’s leading state-run defense enterprise suffers losses due to lack of government funding

19:52, 26 January 2017

Ukroboronprom

The Armed Forces of Ukraine don’t have enough modern vehicles and cutting-edge weapons because of the under-funding. Ukroboronprom, the largest Ukrainian state-run defense company, reported that in their Thursday statement.

Due to the lack of government funding, the company had employees of Lviv tank factory go for the unpaid leave.       

‘Currently, Ukroboronprom has several times bigger capability than that of the state budget of Ukraine. We fulfilled the state defense order for 100 percent, that is, we produced and sent the army everything they ordered. But the state budget can only meet the Armed Forces’ basic requirements, which means no investments in production, no investments in technologies. But these are exactly the tools that support the decent level of competitiveness of our defense industry,’ the company said.   

Ukroboronprom added that they are now doing everything within their reach to minimize the damage from the shortage of budgetary costs.

The 2017 state budget foresees about USD 4.8 billion for the needs of defense and security area, which is 5 percent from the country’s GDP. This sum is almost 14 percent more than that in the previous year’s budget. According to Defense Minister Stepan Poltorak, that’s enough to maintain the Armed Forces, but definitely not enough to develop its potential.  

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