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Serbia to invest into military industry

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Belgrade, Jul 22 (Prensa Latina) Serbian President Aleksandar Vucic assured that the country will continue to develop the military industry and will invest an additional 100 million euros in it.

According to the President, Serbia will continue to sell weapons and increase the financing of the sector in the coming period. In December 2021, the president announced that the Serbian “brass” (military leadership) intends to multiply defense investments in the period from 2022 to 2027.

Vucic noted that plans provide for the allocation of €500 million more than last year.

From 2018 to February 2020, Russia supplied to Serbia four Mi-35M helicopters, six MiG-29 fighters, three Mi-17V-5 helicopters, Pantsir-S1 air defense systems, and 30 tanks as military-technical assistance.

According to Defense Minister Aleksandar Vulin, the combat readiness of the national army was significantly strengthened thanks to the cooperation between Belgrade and Moscow.

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