Romania's Govt. gives money to defense companies to increase state security

The Government is invoking the risks arising from tensions near Romania to take money from the state budget by emergency procedure and to give them to companies in the defense industry, according to a document obtained by Profit.ro. The money will be used to modernize the production lines for weapons, ammunition, and war material. The Government argues that urgent action is needed to protect state security. Last year the executive wiped EUR 250 million worth of historical debts for 15 state-owned companies in the defense industry. "The regional geopolitical context requires strengthening Romania’s defense capacity by taking urgent steps to carry out investments in the defense industry, so that the national defense forces can be equipped with the adequate means to protect the Romanian state’s essential security interests,” reads the document. The Romanian state’s security interests would be greatly affected if the state failed to adopt urgent measures to finance the investment programs of the companies in the defense industry, according to the document. US Defense Secretary: Romania will host US military equipment editor@romania-insider.com (photo source: freeimages.com)