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Italy Approves $20.6B in 2023 Budget to Fund Weapons Procurement

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The Italian government has allocated around $20.6 billion of its 2023 budget to defense spending for the acquisition of new weapons.

Rome’s latest budgeting document shows plans to purchase new tanks, fighting vehicles and rocket launchers.

According to Defense News, officials delayed the document’s release to accommodate the military’s updated requirements following Russia’s invasion of Ukraine.

The 2023 spending plan earmarks $6.45 billion for defense procurements, up from the $5.73 billion invested in 2022.

The Italian Ministry of Defence projected that military acquisitions will surge anew in 2024 and 2025, requiring provisions of $8.62 billion and $9.24 billion, respectively.

The budget document indicates that the European power will seek to buy 21 High Mobility Artillery Rocket Systems from the United States, spending over $1 billion for the launchers over the next seven years.

The country is also shopping for new Leopard 2 A8 tanks, and the build-up will run through 2037, costing the national treasury around $4.2 billion.

Notably, Italy intends to spend $8.6 billion to bring home 133 new tanks to satisfy NATO requirements, Defense News said.

Additionally, the document revealed that Italy will soon receive new armored fighting vehicles through a partnership program between the country’s local industry and select European partners. The government will provide $5.5 billion for the 14-year project.

The defense investment also covers air power upgrades for Italy, with $8.1 billion reserved for the Global Combat Air Program, a trilateral effort to develop a next-generation fighter jet with the United Kingdom and Japan.

The Italian military will likewise develop a drone swarm technology to the tune of $80 million.

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