NEW YORK, November 11. /TASS/. The authorities of Ukraine believe that the country is capable of increasing arms production to $20 billion a year, Bloomberg news agency reported, citing former Ukrainian Minister for Strategic Industries Alexander Kamyshin.

According to Kamyshin, who had been recently appointed as an external adviser to Vladimir Zelensky, private companies play an increasing role in the Ukrainian military-industrial complex. Against this backdrop, he believes that Ukraine is capable of "increasing arms production to $20 billion a year, and $30 billion by 2025."

The forecast figures include the production of "large numbers of drones and ballistic missiles with a striking range of up to 1,500 kilometers [932 miles]," according to Kamyshin.

Bloomberg, however, added that the development of the Ukrainian military industry is constrained by the lack of state funds required for this purpose.