Nad: We Probably Won't Reach Defence Spending of 2% of GDP This Electoral Term

14. októbra 2021 16:11
Bratislava, October 14 (TASR) - Defence spending for 2022 at 1.8 percent of GDP is a reasonable compromise, Defence Minister Jaroslav Nad (OLaNO) stated after the Government approved the draft budget for next year on Thursday, admitting, however, that defence expenditure of two percent of GDP is unlikely to be achieved in this electoral term. "Originally, we planned expenditures at 1.86 percent of GDP, so we'll have to expect lower expenditures for next year than we originally wanted and planned," Nad posted on a social network, however, adding that given the financial condition of the former governments and the consequences of the pandemic for public finances, this is a reasonable compromise. "We're unlikely to reach defence expenditure of 2 percent of GDP in this electoral term either, which I'm very sorry about, but it's important that we at least get closer to this goal. We managed this today with the defence budget approved," he added. Slovakia has committed itself within NATO to achieve defence spending of two percent of GDP by 2024. As stated in the draft budget, last year Slovakia met this NATO target, but mainly due to an unprecedented decline in GDP. am/mcs
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