State to Invest EUR 1.25 Billion in Domestic Military Factories in Next Five Years

Serbian Defense Minister Nebojsa Stefanovic stated yesterday that the budget of the Serbian Armed Forces for 2022 would amount to over EUR 1 billion.

Stefanovic said on RTS that it wasn’t only a budget increase, but also a strategic investment aiming to renew the capacities of the industry and the army, as announced on the website of the Government of Serbia.

Stefanovic pointed to the fact that it had been agreed with the president of Serbia for EUR 142 million to be invested in local factories and added that EUR 1.25 billion is planned for the next five years, the majority of which to be used for upgrading the production program of local factories.

Regarding the future procurement of arms for the military, he announced that, in the next year, there would be six new Noras, 12 Pasarses, 18 Lazars, 20 Milos vehicles, 10 MRAP armored transporters with the highest level of protection, 2,000 new sets of ballistic protection equipment, as well as 2,000 modular rifles produced by Zastava, concluded Stefanovic.

Ministarstvo odbrane Republike Srbije

Vlada Republike Srbije

Zastava oružje a.d. Kragujevac

Ministry of Defense

Government of Serbia

Zastava

Nebojsa Stefanovic

military factories

arms

Nora

Pasars

Lazar

Milos

MRAP

armored transporters

rifles