EconomicGlobal RiskIndustryNews BriefsPolitical Risk

Italy plans to slash half a billion dollars from defense in 2019

“Italy will cut €450 million (U.S. $512.3 million) from its planned defense spending in 2019 by suspending helicopter and missile purchases and canceling an office move by the defense ministry to help shore up social welfare and tax cuts…Italy’s total outlay on defense in 2019 will be announced in parliament in the next few days, as Rome’s populist government seeks support by members of parliament for its state budget, which contains billions of euros for a new wage for the unemployed. To free up funds to cover spending, Rome has made its cut to the defense budget, just as most European states are increasing their military outlay.” This budget will likely be a subject of contention in Brussels, that fears insufficiently reigned in spending that will move the country further away from ongoing plans to improve its debt levels. 

Source: Italy plans to slash half a billion dollars from defense in 2019

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.