Tokyo stocks retreat amid geopolitical, economic uncertainties
Tokyo stocks retreated on Wednesday as investors grappled with heightened uncertainties surrounding US monetary policy and geopolitical tensions between Ukraine and Russia.
Ukraine has tripled the production of weapons and military equipment this year, President Volodymyr Zelensky has said.
The output of ammunition for artillery and drones as well as missile production has also increased this year, Zelensky was quoted by the presidential press service as saying on Wednesday, without providing exact figures.
Zelensky further said that next year, Ukraine will focus on the production of explosives and gunpowder to strengthen its position in the conflict with Russia, Xinhua news agency reported.
Advertisement
According to the President, currently, about 300,000 people are employed in Ukraine’s defence industry.
Ukraine is striving to boost its defence production amid the conflict with Russia.
Ukraine plans to spend 1.69 trillion hryvnias (about $45 billion), or 21.6 per cent of its gross domestic product (GDP), on national defence in 2024.
Advertisement
