29 Sep '12, 10pm

Romania Struggles to Field (Almost) New Fighters ~via Defense Industry Daily

”...we do not have this money… ready to spend it when necessary. However, the executive has given us the possibility, by Emergency Ordinance no. 111/2006, which allows ministries to contract loans on the international banking market, we can employ such loans up to the limit of 2.38% of GDP…. in a predictable financing line for the period 2009-2013. We also consider achieving these acquisitions with the participation of internationally prestigious companies, which we would attract in the modernisation and privatisation process of the defence industry.” Indeed, the MiG 21s will deplete their flight resource by 2010-2011 and therefore we must absolutely start the programme of purchasing a multi-role plane…. The issue is the purchase of 48 planes, the budget effort exceeding 3.5 billion lei… financed by foreign loans, using the mechanisms of Emergency Ordinance no. 111/2006…. ...

Full article: http://www.defenseindustrydaily.com/nothing-but-netz-will...

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