BAKU, Azerbaijan, July 18. Greek Minister of National Defense, Nikos Dendias, met with the Deputy Minister of National Economy and Finance responsible for Fiscal Policy, Thanos Petralias, Trend reports citing the country's Defense Ministry.
The meeting, held at the Ministry of National Defence, focused on the SAFE Regulation and the implementation of the 6% withholding in favor of the Armed Forces’ Funds under the additional armaments program.
Regarding the SAFE Regulation, Petralias stated that he would examine the possibility of increasing fiscal space to allow the inclusion of existing armament programs.
Given the increase in defense spending due to the 12-year Long-Term Armament Program (LTAP) and the Rearm Europe initiative, it was agreed that the annual withholdings from defense expenditures in favor of the Armed Forces’ Funds would be calculated based on the high five-year average, in order to ensure the strengthening of the Funds.
Petralias agreed that any amounts exceeding the high five-year average would not be returned to the Ministry of Finance, but would instead be allocated to the Armed Forces’ Housing Program.
Dendias thanked Petralias for his cooperation and support of the Armed Forces’ Housing Program.
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