2014-02-10 00:15:01 - Slovakia Defence and Security Report 2014 - a new market research report on companiesandmarkets.com
BMI expects to see defence spending in Slovakia in 2013 to increase 7.5% over 2012 levels, to some US $1,089mn. This constitutes 1.1% of GDP.
NATO members are theoretically required to allocate at least 2% of GDP to defence purposes, but, Slovakia looks set to maintain levels well below that for the foreseeable future. Indeed, we forecast defence spending as a percentage of GDP to remain around 1.0-1.1% over the remainder of our 2017-forecast period.
This lack of spending has been harshly criticised by the Slovakian minister of defence. Minister Lubomir Galko warned that the Slovakian army is beginning to break down under the strain of Afghan deployment and minimal defence spending. The right-wing Slovakian government which governed prior to 2006 had
adopted the Model 2015 plan, aiming for 1.85% of GDP being spent on defence by 2015, but even this modest target was abandoned under the Fico government.
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