Budget and Defence Industry
Serbia's current defence spending stands at 2.08% of the GDP, this represents a drop in overall relation to the GDP as a percentage. Over 30% of the budget is spent on pensions alone. The continuing drive to modernize the military will add onto costs in the future. To promote efficient use of funds, the Strategic Defence Review has helped eliminate redundant services, withdrawal of outdated equipment, increase manoeuvrability and decrease response time. The number of active personnel has been significantly reduced from pre-2004 levels. As of 2011, over 90% of the armed forces are composed of professional soldiers and volunteers. Serbia is the largest exporter and producer of military hardware in the region. Serbian defence industry exports totalled 500 million U.S. dollars in 2009.
Read more about this topic: Serbian Armed Forces
Famous quotes containing the words budget, defence and/or industry:
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)
“To choose a hardship for ourselves is our only defence against that hardship. This is what is meant by accepting suffering.... Those who, by their very nature, can suffer completely, utterly, have an advantage. That is how we can disarm the power of suffering, make it our own creation, our own choice; submit to it. A justification for suicide.”
—Cesare Pavese (1908–1950)
“The Founding Fathers in their wisdom decided that children were an unnatural strain on parents. So they provided jails called schools, equipped with tortures called an education. School is where you go between when your parents can’t take you and industry can’t take you.”
—John Updike (b. 1932)