Defense Industry: News

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Ukraine's economy shrinks as Russia continues bombing businesses

With Russia continuing to wage an unprecedented campaign against Ukrainian businesses, Ukraine’s Economy Ministry has downgraded its forecast for the country’s economic growth this year from 1.3% to 0.5%, as Moscow targets key industries such as steel production, e-commerce, and ports.

About Defense Industry

Ukraine's defense industry produces weapons systems, ammunition, and military equipment for Ukrainian forces and potential export markets. Domestic production expanded significantly since Russia's full-scale invasion began in February 2022, with especially drone production.

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