16:23 06.09.2016

Defense industry may become driver of Ukraine's economy

2 min read

The Ukrainian government has managed to achieve economic stabilization in the country, now its task is to renew economic growth and increase incomes of Ukrainians, President Petro Poroshenko has said.

"I would like to note that having achieved macroeconomic stabilization and the renewal of economic growth the Cabinet of Ministers should switch from the policy of survival to macro financial revival of economic growth, from tightening our belts to the stabilization of household budgets and to gradual growth of incomes of Ukrainians. I see that the government adheres to these guidelines," the president said in his annual address to the Verkhovna Rada on Tuesday.

According to Poroshenko, the defense industry may become a driving force for the economic growth in the country.

"A forced militarization has become one of the drivers of the economic growth. It would be desirable to turn this short-turn effect into a multiplicative one, which will affect not only the defense industry, but also the development of manufacturing of dual-purpose products," he said.

The president said that this should be done in the industries which supply raw materials to the defense sector.

"We are talking about a synergistic effect of the production of modern weapons and military equipment, as well as a 'peaceful' use of innovations, which originally had a military purpose," Poroshenko said.

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