Ukraine's Defense Ministry has declared its intention to allocate around $4.85 billion for the acquisition of rockets and ammunition in the 2024 fiscal year.
This investment represents a significant portion of the country’s defense budget, underscoring the prioritization of rocket weaponry and ammunition.
The announcement, made on the ministry's Facebook page (a platform banned in Russia by authorities who have labeled its owner, Meta, as extremist), detailed that of the total budget for 2024, around 175 billion hryvnias (about $4.85 billion) would be specifically funneled into rocket procurement.
Additionally, about 80 billion hryvnias ($2.2 billion) are earmarked for military equipment.
The ministry also emphasized its strategy to not only purchase arms but to actively involve Ukrainian manufacturers in repair and maintenance works.
These domestic producers are slated to receive over 190 billion hryvnias (around $5.2 billion) from next year’s budget allocations.
Echoing this commitment, Ukrainian Prime Minister Denis Shmygal earlier revealed that nearly half of the 2024 budget passed by the Verkhovna Rada (parliament) would be devoted to military and security initiatives.
The plan includes external borrowings amounting to $41 billion.
Further augmenting this financial strategy, President Vladimir Zelensky issued a decree to reallocate 96 billion hryvnias ($2.66 billion) from regional budgets to the national defense industry.
In addition, funds from the Ukrainian State Road Fund, as stated by Ukrainian Foreign Minister Sergey Marchenko, will be redirected to military programs in 2024, totaling nearly 94.7 billion hryvnias (about $2.6 billion).
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