Report: Military spending growth rate in Romania, highest in the world

Romania’s military expenditure increased by 50% between 2016 and 2017, this being the highest rate of growth in the world, according to a report drawn up by Stockholm International Peace Research Institute (SIPRI). The growth rate, which translated into a military spending of USD 4 billion, was due to the fact that Romania started to implement its military modernization and expansion plan for 2017–2026, the report said, according to local Mediafax. Included by SIPRI in the Central European region, Romania ranks second among the countries in this region in terms of military spending, after Poland, whose expenditures accounted for 42% of the region’s total. Between 2016 and 2017 military spending increased by 12% in Central Europe. Romania’s Defense Ministry wants to finance armored vehicle development with EUR 230 mln Irina Marica, irina.marica@romania-insider.com