DefMin: I hope we exceed 30pct for endowment next year, great need in naval area

National Defence Minister Vasile Dincu said on Wednesday that he hoped the ministry's budget allotted in 2023 at least 30 percent to military endowment and underscored Romania needed acquisitions in the naval area.He had an intervention in the opening of the Black Sea Defence and Aerospace (BSDA) conference and exhibition event.Asked about the percentage that could be earmarked next year from the Defence budget to military acquisitions, the minister said: "There is a rule with NATO, it accounts for 20 percent, I hope we exceed 30 percent for endowment, as this is the thing we need the most.""At the moment, we need much more, as the strategic situation requires it, we need endowment in the naval area. Because the Black Sea has become a lake full of sharks, we not only need corvettes, we also need modern frigates, maybe even other types of arms, to ensure security at the Black Sea," Dincu showed.Dincu said the corvette acquisition could be decided in July, at the latest. "We are not postponing the acquisition, at the moment there is an extension asked by the Association [Naval Group - Constanta shipyard] to come up with a last offer. I hope we'll decided this in maximum two months," he detailed.Economy Minister Florin Spataru spoke in the BSDA opening about the prospects of the defence industry."Romania's defence industry must be both strategic and profitable for the economy. We don't want strategies on paper only. The strategy to develop the defence industry must be adapted to the new security dynamics and the new technological requirements and the new economic reference points. The development of the national security industry must take into account that the market results from the demands determined by the existing and probable military threats and the missions assumed on NATO level," Spataru said.BSDA, taking place until Friday at the ROMAERO S.A. exhibition complex in Bucharest, is aimed at identifying opportunities and finding cooperation solutions both in production and in the business area, contributing to the international promotion of Romania's defence industry.