Slovenia will increase its defence budget to reach 2% of its gross domestic product (GDP) by 2030, a significant increase from the current 1.35%, Slovenian Defence Minister Marjan Sarec announced at the SOBRA international fair in Gornja Radgona, north Slovenia, on Thursday.
In 2023 the defence budget of Slovenia, a NATO member since 2004, is estimated at USD 0.9bn, which is projected to experience a compound annual growth rate of over 8% from 2024-28.
Although still comparatively modest in comparison to other NATO allies, Slovenia’s defence budget has seen steady recent increases and with this announcement is now expected to continue growing for the foreseeable future.
Sarec emphasised the need to be increasingly prepared to face new challenges in the present era. This 2% target is the agreed-upon standard among NATO partners, Sarec noted at the four-day SOBRA defence and security international fair that ran from September 21-24, and featured 120 security and defence product exhibitors from 11 different countries.
“The time we live in demands from us an increasing readiness to face new challenges. The SOBRA fair offers a chance to get acquainted with new technologies and modern equipment,” Sarec said. “We realise that it is necessary to invest in security, protection, rescue and defence in peaceful times. We will increase the resources even more: security is a basic commodity, citizens deserve safety,” he added.
Slovenia committed NATO member
Slovenia’s upcoming investments are deemed essential for adapting to evolving security threats, including cyberattacks and hybrid warfare and will support its active involvement in international peacekeeping missions. Slovenian troops have been deployed to various regions worldwide as part of UN and NATO-led operations. Additionally, the defence budget facilitates initiatives aimed at enhancing interoperability and cooperation with NATO allies.
The Balkan country’s commitment to NATO has been a major driving force behind its rising defence expenditure. NATO membership has likewise played a pivotal role in shaping its defence strategies and funding priorities.
Slovenia also needs to increase its protection and rescue spending after experiencing the worst floods in its history in August 2023 and a forest fire that raged for over a fortnight last July.
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