ROME, Nov 10 (Reuters) – Italy’s government is seeking parliamentary approval to increase planned investment in F-35 fighter jets by €7.28 billion ($8.17 billion), lifting the programme’s overall cost by more than 50%, according to a parliamentary document.
• The programme was approved in 2009 with a planned budget of €13.5 billion. The additional funding would bring total spending to €20.8 billion.
• The new investment is due to begin next year and run through 2039.
• The government said the cost revision reflected technological upgrades, stricter security requirements, inflation and changes in the euro-dollar exchange rate.
• The increase comes as European countries boost defence spending in response to Russia’s invasion of Ukraine and broader security concerns.
• Italy has pledged to gradually raise military expenditure and accelerate investment in advanced military capabilities as allies push for stronger European defence.
($1 = 0.8908 euros)
(Reporting by Angelo Amante and Giulia SegretiEditing by Keith Weir)
Comments