BMI View: French defence spending will increase in 2016, amid the government's ongoing fight against
internal and external threats. The Paris attacks in November consolidated the government's promise to halt
armed forces downsizing and strengthen counter-terrorism cap ..."
BMI View: We forecast substantial increases in Polish defence expenditure over the coming years, as
Warsaw continues its armed forces modernisation programme amid a persistent threat of Russian
aggression. Military spending will likely be kept close to the NATO-stipul ..."
BMI View: Weaker economic growth as a result of the Brexit vote in 2016-2017 will likely force the MoD
to revise its plan for a 3.1% real term increase in defence spending out to 2020. Defence expenditure will
still remain above the 2% of GDP NATO-stipulated target, a ..."
BMI View: We expect the Spanish defence budget to grow in line with gradually improving economic
conditions in coming years. However, we note that funding available for new procurement remains
restricted, as the defence ministry's debt on existing military programmes ..."
BMI View: Germany will increase defence spending over the coming years, in order to move ahead with
Bundeswehr reform and expansion plans, amid regional tensions over the Ukraine conflict and migrant
crisis, growing threats from terrorism, and in response to NATO mili ..."
BMI View: Croatia's continued downsizing of its already small armed forces, the lack of an immediate
threat to its security environment and a still-weak - albeit improving - economic outlook, will limit the
country's defence expenditure going forward. As such, the dom ..."
BMI View: Hungarian defence spending remains relatively modest compared to the Europe region as a
whole, and has declined as a percentage of GDP over the last decade, reflecting the country's stable
security environment. We currently forecast the defence budget to rem ..."
BMI View: We expect Romania's defence budget to increase, both in absolute terms and as a share of
GDP, in the next five years. This growth will be driven by the rising tensions in the Black Sea region, as
Russia's increasingly aggressive stance in Ukraine and Moldova ..."
BMI View: Serbian defence spending will remain modest in 2016, amid the government's ongoing fiscal
consolidation programme. Despite the armed forces' requirements to replace much of its ageing equipment
- particularly in the aerospace segment - new procurement will t ..."
BMI View: We expect the Czech Republic's defence budget to start increasing again in absolute terms in
the next five years. This is in large part a result of the healthy growth the country has been experiencing
since the beginning of 2015. It will be driven in the com ..."