Recently published research from Business Monitor International, "Slovakia Defence & Security Report 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/07/2014 -- BMI expects to see defence spending in Slovakia in 2013 to increase 7.5% over 2012 levels, to some US $1,089mn. This constitutes 1.1% of GDP.
NATO members are theoretically required to allocate at least 2% of GDP to defence purposes, but, Slovakia looks set to maintain levels well below that for the foreseeable future. Indeed, we forecast defence spending as a percentage of GDP to remain around 1.0-1.1% over the remainder of our 2017-forecast period. This lack of spending has been harshly criticised by the Slovakian minister of defence. Minister Lubomir Galko warned that the Slovakian army is beginning to break down under the strain of Afghan deployment and minimal defence spending. The right-wing Slovakian government which governed prior to 2006 had adopted the Model 2015 plan, aiming for 1.85% of GDP being spent on defence by 2015, but even this modest target was abandoned under the Fico government.
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As for budget execution, the MOD seemed to be unable to rationally plan and invest large amounts of resources in the long run. The problem was that there were alterations made to the defence budget throughout the year, which results in the non-fulfilment of priority goals. In practical terms, the execution of defence planning in Slovakia was reduced to one-year procurement cycles.
Currently some 86% of all defence spending is on personnel, with only 14% being spent on modernisation - a ratio which is set to hit 90%/10% unless extra cash is invested.
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