Romania invests in national defense
It will increase its expenditure in the sector to 2.5% of GDP
The government of Romania has increased investments in new technologies to modernize the state defense industry, as well as to increase the armament production capacity and the volume of exports. Just look at the income statements of the state-owned Romarm, which controls 15 companies in the sector: turnover has increased sixfold in the last nine months, going from 28.48 million dollars to 131.6 million.
"What we see is that high energy prices and a low technological base have led to a lower than expected level of production", said Romanian Economy Minister Florin Spataru, interviewed by the British news agency "Reuters".
"We need investments -he added- in new technologies to solve this competitiveness problem. Our goal is to increase production to meet the needs of the competent ministries, but we are also looking at exports and covering regional demand".
Eastern Europe's arms industry ramped up its production this year, particularly to help Kiev in its war against Moscow. Romania, which shares a 650 km border with Ukraine, will increase its defense spending to 2.5% of GDP: 129.83 million euros in 2022 and another 40.6 millions in 2023 .
AVIONEWS - World Aeronautical Press Agency