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Hungary defense spending to reach 1.66% of GDP in 2021

Government

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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.

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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.

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