Fast Market Research recommends "Serbia Defence & Security Report 2014" from Business Monitor International, now available

Boston, MA -- (SBWire) -- 01/09/2014 --Despite BMI's forecast for Serbia to see modest economic growth in the medium-term period, increased austerity measures could hit defence spending. The Serbian military is still adjusting to the end of conscription in 2011 and domestic arms and ammunition producers have strong portfolios to supply the country's police and armed forces. Nevertheless, the defence sector is slowly overcoming infrastructural damage caused by past conflict with NATO and is renewing trade ties damaged by international sanctions. A November 2013, 15-year military pact with Russia will provide a major boost both practically and politically to Serbia.

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Regionally, the issue of Kosovo remains a security threat, but an agreement signed by Belgrade and the Kosovan regime in early 2013 helped to defuse tensions ahead of municipal elections in the newly independent state, which still saw some violence. Looking ahead, Serbian defence spending is under threat and it is unlikely that any major procurement spend will take place, although working closely with Russia may deliver some improvement in high-tech weaponry.

Serbia continues to rehabilitate itself with the international community, particularly through overseas deployments of its military on peacekeeping missions. Serbia's biggest overseas troop deployment remains the 43 infantry, two observers and one staff officer posted to work with a Hungarian-Slovak unit in Cyprus as part of a UN peacekeeping mission. The country also has a number of staff officers, medical officers, observers and technicians posted in foreign climes in support of the UN. These territories include Lebanon and the Democratic Republic of Congo, Cote d'Ivoire , Liberia, Somalia and Uganda in Africa. Thirty-four Serb troops, part of the UNIFIL mission in Lebanon, were decorated in 2013.

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