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 ..."
We expect Serbia to spend up to USD988mn on defence in 2014. On average, since the start of this decade,
between the years 2011 and 2013, Serbia has spent an average of USD918.3mn on defence annually. We
expect defence spending to fluctuate for the remainder of our fo ..."
BMI View: Despite BMI's forecast for Serbia to see modest economic growth in the medium-term period,
increased austerity measures could hit defence spending. The Serbian military is still adjusting to the end of
conscription in 2011 and domestic arms and ammunition pr ..."