Brussels – Slovakia is not considering higher defense spending beyond the two percent of GDP, which it fulfills as a member of the North Atlantic Alliance, and which some member states of the European Union (EU) are considering. This was stated on Tuesday in Brussels by the Slovak Minister of Finance, Ladislav Kamenický (Smer-SD), after the meetings of the finance ministers of the Eurozone and the EU, informs the Brussels correspondent of TASR.

Kamenický, when asked how he perceives the outcome of Monday’s informal meeting of leaders of some EU countries, convened by French President Emmanuel Macron and where no concrete agreement was reached on increasing defense spending, admitted that he does not have direct information about what happened in Paris.

“However, I can say that the Slovak Republic has its commitment of two percent of GDP for defense, and we do not plan to change this commitment,” he stated.

He confirmed that ministerial debates also included that some EU countries are willing to increase spending on defense. In Slovakia, he considers it a “prime ministerial topic.” As Minister of Finance, he is primarily interested in what impact such expenditures would have on the fiscal rules required by Brussels, especially during the consolidation of the national economy.

“We do not want to be sanctioned for certain things that could be related to such increases. So far, we insist that two percent are sufficient,” he conveyed.

According to him, Slovakia advocates the policy of dual use of military expenditures, meaning some of them can be used simultaneously in the civilian sector and the defense industry. This includes, for example, repair of bridges used for both civilian and defense technology or the construction of a military hospital in Prešov.

The President of the European Commission (EC), Ursula von der Leyen, indicated at the end of last week the possibility of exempting EU members’ defense expenditures from the rules of the Stability and Growth Pact, which “ensures” that countries manage responsibly and do not overindulge in debt. Kamenický elaborated that ‘purely by virtue of his position,’ he must view the proposal of the Euro Commission from a financial standpoint.

“On one hand, I am interested in what impact it will have on the deficit; it would certainly have an impact on the debt of the Slovak Republic, and it could also affect the rating, so there will be various questions,” he described the situation. He added that ministers talked, for example, about a greater involvement of the European Investment Bank (EIB) in financing defense spending and also about creating a similar fund to the Recovery and Resilience Plan for defense. However, he pointed out that there are currently no unified opinions among the member states of the Union. (February 18)

“I can say that the Slovak Republic has its commitment of two percent of GDP for defense, and we do not plan to change this commitment.” Ladislav Kamenický