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Ukraine to spend almost $5 bln on rocket purchases in 2024

The Ukrainian Defense Ministry added that it would primarily seek to buy weapons and hardware as well as engage Ukrainian producers in repair works

MOSCOW, November 24. /TASS/. The Ukrainian Defense Ministry announced plans to spend some $4.85 bln on the purchase of rockets and ammunition next year.

"Rocket weapons and ammunition are a priority of the 2024 defense budget. <...> About 175 bln hryvnias (around $4.85 bln - TASS) from all planned budget spending in 2024 will be channeled into this. On military equipment, about 80 bln hryvnias ($2.2 bln - TASS) [will be spent]," Ukraine’s defense agency said on its page on Facebook (social media platform banned in Russia due to its ownership by Meta, which has been designated as extremist by the Russian authorities).

The Ukrainian Defense Ministry added that it would primarily seek to buy weapons and hardware as well as engage Ukrainian producers in repair works. The latter are expected to receive more than 190 bln hryvnias (some $5.2 bln) from next year’s allocations.

Earlier, Ukrainian Prime Minister Denis Shmygal said that almost half of the 2024 budget approved by the Verkhovna Rada (parliament) would cover military needs and security programs. According to plan, Ukraine’s external borrowings should stand at $41 bln.

After that, Ukrainian President Vladimir Zelensky decreed to transfer 96 bln hryvnias ($2.66 bln) from regional budgets to the country’s defense industry. Also, money from the Ukrainian State Road Fund will be repurposed for military programs in 2024. These funds, according to Ukrainian Foreign Minister Sergey Marchenko, will amount to nearly 94.7 bln hryvnias (around $2.6 bln).

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