Business news from Ukraine

Business news from Ukraine

CABINET OF MINISTERS TO SUBMIT SPACE PROGRAM WITH UAH 15.8 BLN FUNDING

The Cabinet of Ministers of Ukraine on September 29 supported the bill on approval of the national target scientific and technical space program of Ukraine for 2021-2025 with an approximate amount of funds for its implementation of UAH 40.78 billion, including UAH 15.76 billion from the state budget.
“The program provides for the implementation of a number of tasks, in particular, the implementation of space activities in the interests of national security and defense, the creation of space Earth observation systems and their components, the introduction of space technologies in the service market,” Deputy Prime Minister – Minister of Strategic Industries Oleh Urusky commented on the document on Facebook.
He noted that, according to preliminary estimates, indirect income for this period and additional benefits in the field of national security, public administration and ecology will exceed UAH 16 billion. The largest revenue is expected in agromonitoring, ecology, security and defense segments.
At the same time, an explanatory note to the document indicates that so far in the Budget Declaration for 2022-2024 the State Space Agency of Ukraine has brought the maximum expenditure figures for these years at UAH 95 million annually.
According to the draft program, if in 2021 its funding is planned in the amount of UAH 900 million, including UAH 195 million from the state budget, then in 2022 it is planned to increase it to UAH 10.5 billion, including UAH 4.8 billion from the state budget.