Romania's President Klaus Iohannis attends celebrations marking the Army Day in Bucharest, capital of Romania, Oct. 25, 2022. (Photo by Cristian Cristel/Xinhua)
BUCHAREST, Oct. 25 (Xinhua) -- Romanian President Klaus Iohannis reiterated on Tuesday his country's intention to increase defense spending by 0.5 percentage point to 2.5 percent of gross domestic product (GDP) in 2023.
The aim is "to increase the Army's ability to carry out its entrusted missions and thus give Romania even more credibility in playing its part as a regional security pillar," Iohannis said at a ceremony marking Romanian Armed Forces Day.
According to him, allocating 2 percent of GDP for defense as established in 2017 "has facilitated the increase in investments, the provision of equipment, as well as the necessary funds for preparation and training for better interoperability with allies."
Also on Tuesday, the Supreme Council of National Defense (CSAT), Romania's top executive body, approved plans to update the "Army 2040" program, which aims to develop the country's military capabilities.
Romania is one of the European countries that meets the minimum criteria of spending 2 percent of its GDP on defense set for members of the North Atlantic Treaty Organization (NATO).
The proposal to further increase the ratio of defense expenditure to GDP was first tabled by the head of state at a CSAT meeting on March 1 this year.
Romania's GDP was 284.09 billion U.S. dollars in 2021, according to the World Bank, and the International Monetary Fund expects the country's economy to grow 4.8 percent in 2022 and 3.4 percent in 2023. ■
Soldiers attend celebrations marking the Army Day in Bucharest, capital of Romania, Oct. 25, 2022. (Photo by Cristian Cristel/Xinhua)
Soldiers march during celebrations marking the Army Day in Bucharest, capital of Romania, Oct. 25, 2022. (Photo by Cristian Cristel/Xinhua)
Military helicopters are seen during celebrations marking the Army Day in Bucharest, capital of Romania, Oct. 25, 2022. (Photo by Cristian Cristel/Xinhua)