The goal remains until 2028 to reach 2% of GDP in armaments expenditures and the method we will follow to achieve this goal is the method with supplementary budgets, said Defense Minister Vassilis Palmas before the Parliamentary Finance Committee, which examined the Friday the budget of the Ministry for 2025.
For example, in order to achieve the goal of 2% of GDP, the Minister of Defense stated that next June "our goal is to bring before you a proposal for a supplementary budget in order to increase the percentage of spending on armaments".
In June, in all probability, when additional budgets will be submitted by the Government, "then there we will be judged and evaluated as to whether we are trying to reach the total of 2% of GDP for defense armour", he underlined.
Mr. Palmas presented to the Finance Committee of the Parliament the budget of the YPAM for 2025, which foresees total budgeted expenses at €588,4 million and are increased in relation to the 2024 Budget by approximately €3,9 million, of which the amount for the "Cypriot Army" Fund amounts to €190.590.465, for the Fund "National Guard" amounts to €205.987.000 and the "Defense Armor" Fund amounts to €179,550,000.
At the same time, Mr. Palmas referred to the three main Pillars of Action on which the policy of the Ministry of Defense is based in order to achieve the goals for the utilization of available resources, in the most rational way.
Referring more specifically to the three main Pillars of Action, the Minister of Defense said that the first pillar of actions concerns "our planning to Strengthen the Deterrence Power and Military Capabilities of the National Guard, with the aim of effectively defending the Republic of Cyprus and ensuring security of Cypriot citizens as a whole".
He stated that the second pillar concerns the planning and implementation of actions to adapt and increase the operational resilience of the National Guard to climate change, while the third pillar concerns, as he said, the digital transformation and digital transition of the Ministry of Defense and the National Guard.
"Both the situation in our region, as well as the more general geopolitical developments, require us to respond with seriousness and prudence", said Mr. Palmas, stressing at the same time that "in the effort to face the emerging challenges, unity and determination are the strongest guarantee for the achievement of our common goals".
Source: KYPE
