• Military

• WMD Menu                           

• Introduction
• Systems
• Facilities
• Agencies
• Operations
• Countries
• Hot Documents
• News
• Reports
• Policy
• Budget
• Congress
• Links

• Intelligence
• Homeland Security
• Space

Ukraine's President Wants to Increase Weapons Export as Source of Income

Sputnik News

00:54 28.01.2017

Poroshenko urged the government to increase the country's volume of weapons export in order to boost the foreign exchange reserves of Ukraine.

MOSCOW (Sputnik) – Ukrainian President Petro Poroshenko urged the government Friday to increase the country's volume of weapons export in order to boost the foreign exchange reserves of Ukraine, instructing to develop an upgrade program for the weapons production facilities.

"We must back up the increasing demand for Ukrainian weapons … Only due to the exports contracts, the most advanced Ukrainian developments do not stay in drawers, but bring 2 percent of the whole export of Ukraine. The task is to increase this indicator as a source of foreign exchange earnings, " Poroshenko said at the meeting of Ukraine's National Security and Defense Council, as quoted in a official statement.

In order for the Ukrainian weapons to remain competitive at the global market, Poroshenko instructed the government to develop an upgrade program for the weapons production facilities, according to the statement.

Ukraine economy heavily suffered after 2014 coup. The country is currently relying on foreign aid to support its economy and to pay debts amid the ongoing armed conflict with independence supporters in the southeast region of Ukraine.

© Sputnik