Hungary defense spending to reach 1.66% of GDP in 2021
pixabay
Hungary has allocated HUF 778 billion for defense spending next year, equivalent to 1.66% of GDP, Defense Minister Tibor Benkő said on public television on Monday.
Image by Pixabay
Next yearʼs defense budget will be HUF 162 bln bigger than this yearʼs, bringing Hungary closer to the 2%-of-GDP defense spending threshold expected of NATO members, Benkő said on news channel M1.
Between 25% and 30% of next yearʼs defense spending will go towards developments, he added.
Lawmakers approved the governmentʼs 2021 budget on Friday.
Bamosz Investment Fund NAV Reaches HUF 15.624 tln in March
Hungary Condemns Iranian Attack on Israel
Share of 1st Time Home Buyers Climbs
Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
