Subscribe free to our newsletters via your
. Military Space News .




SUPERPOWERS
Romania to seek EU-IMF permission to boost defence budget
by Staff Writers
Bucharest (AFP) Dec 01, 2014


Romania will seek permission from the International Monetary Fund and the European Union to increase its defence budget next year in view of the separatist rebellion in neighbouring Ukraine, the finance minister said Monday.

"It is very important to step up military spending, and one of the items of discussion with the IMF and the EU will concern an extension by 0.3 perent of gross domestic product for the army," Ioana Petrescu told reporters on the eve of a visit by the lenders to Bucharest.

"We will try to get the 0.3 percent added to the deficit" of 1.4 percent of GDP that Bucharest has committed to for 2015, she added.

Petrescu said the hike was needed "in view of the situation in Ukraine, which entails more spending, and Romania's commitments to NATO", notably to host a regional command centre for the alliance.

Prime Minister Victor Ponta said in May that the defence budget was 1.5 percent of GDP and should rise to two percent in 2017 after NATO called on its members to step up their military capacities.

Romania emerged from a deep recession thanks to an emergency loan of 20 billion euros from the IMF and EU in 2009, and in 2013 reached a new two-year accord on a credit line of four billion euros ($5 billion) to use in case of a major crisis.

Weakened by his defeat in a November 16 presidential election to right-wing leader Klaus Iohannis, Ponta must convince the international lenders that campaign promises such as raising the minimum wage and doubling benefits for disadvantaged children can be met while still limiting the deficit to 1.4 percent of GDP.

According to Ionut Dumitru, chairman of the independent Fiscal Council charged with monitoring government tax and spending policy, the campaign promises will create a shortfall of between 3.5 and 4.0 billion euros -- around 2.2 percent of GDP.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Learn about the Superpowers of the 21st Century at SpaceWar.com
Learn about nuclear weapons doctrine and defense at SpaceWar.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








SUPERPOWERS
China leader vows to protect territorial interests
Beijing (AFP) Nov 30, 2014
Chinese President Xi Jinping said in a key foreign policy speech that the rising Asian nation would protect its sovereign territory, the Xinhua news agency reported, as it faces maritime disputes with several neighbours. "We should firmly uphold China's territorial sovereignty, maritime rights and interests and national unity," Xi told a Communist Party meeting on foreign affairs held on Fri ... read more


SUPERPOWERS
U.S Navy sending Aegis-equipped destroyers to Japan

U.S. holds test on Aegis tracking capability

Russia to Create Space-Based Ballistic Missile Warning System

LockMart and NGC Deliver Payload for Fourth SBIRS Satellite

SUPERPOWERS
RAF launches Paveway guided bombs from Eurofighter Typhoon and F-35

Taiwan develops new missiles to counter China's threat

Brazil, Russia in talks on air defense system

The fear and the chaos of a missile attack in east Ukraine

SUPERPOWERS
NGC delivers first operational MQ-8C Fire Scout to the US Navy

France studies how to intercept mystery drones over nuclear plants

Sagem demos drone for use in civilian airspace

Sense and Avoid system for UAVs in civilian airspace closer to reality

SUPERPOWERS
Harris Corporation supplying Falcon III radios to Canadian military

GenDyn Canada contracted to connect military to WGS system

Northrop Grumman continues Joint STARS sustainment services

Harris Corporation opens engineering support facility

SUPERPOWERS
Precision guided projectile hits the mark in recent testing

Air Force orders additional programmable bomb fuzes

US delivers anti-mortar radars to Ukraine: Pentagon

Marines get counter-IED training from A-T Solutions

SUPERPOWERS
Kalashnikov fight Russia sanctions with fashion line

Raytheon to provide Qatar with IAMD Command and Control System

Pentagon chief Hagel out as IS war heats up

Nammo subsidiary buying Patria ammunition facility

SUPERPOWERS
Ashton Carter likely next Pentagon chief: reports

NATO ministers boost support for Ukraine

Journalist missing in Minsk, feared detained

NATO agrees to keep military channels open with Russia

SUPERPOWERS
'Giant' charge density disturbances discovered in nanomaterials

LLNL team develops efficient method to produce nanoporous metals

Thin film produces new chemistry in 'nanoreactor'

Ultra-short X-ray pulses explore the nano world




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.