Nearly Half of 2023 Defense Spending Intended for Arms Procurement | Beta Briefing

Nearly Half of 2023 Defense Spending Intended for Arms Procurement

Source: Beta
Archive / News | 28.11.22 | access_time 11:50

Promotional Ceremony for Army of Serbia Junior Officers (BETAPHOTO/MILOS MISKOV)

The 2023 draft budget law envisages more than EUR1.3 billion in defense spending, or around two percent of the projected Gross domestic product (GDP) which, proportional to economic power of countries, is a higher percentage than in most of NATO members in Europe, according to media reports on Nov. 28.  

Portal Balkan Security Network has reported that Serbia has planned a defense budget of nearly RSD161 billion, with 44.9 percent of the planned spending intended for procurement of new weapons.  

According to the draft budget, EUR616 million will be set aside for procurement of arms and military equipment, EUR542 million for salaries, contributions, daily extra pays, and subsistence allowances, EUR203 million for operating costs, and around EUR11 million for construction of new and refurbishment of existing facilities.  

“According to defense expenditures planned for 2023, investments in arms procurement and infrastructure account for 45.7 percent, which is at a similar level as in Greece and Hungary,” according to the portal.

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