Athens: Greek Prime Minister Kyriakos Mitsotakis announced a 25 billion euros budget to strengthen the Greek armed forces, addressing the plenary session of the parliament.
At the core of Greece’s 12-year long-term defence procurement planning will be the creation of a multi-layered air defence system, to be named the “Achilles Shield,” as well as the sustainment of existing weapons systems.
Mitsotakis emphasised that Greece is among the core group of EU states supporting the European Commission’s efforts to achieve strategic autonomy.
Within this framework, the country allocates more than 3% of its GDP to defence expenditures and has set as a prerequisite for new procurement programs the participation of the domestic defence industry at a rate of up to 25%.
The Greek prime minister noted that the government will leverage the fiscal space created by the so-called “escape clause” to boost defence investments over the next four years.
At the same time, he argued that the SAFE Fund, amounting to 150 billion euros, is a significant financial tool enabling the 27 EU member states to increase their defence spending by investing in the European defence industry.
Under the announced 12-year plan, Greece aims to establish a five-tiered multi-layered defence system. This will involve a combination of existing systems, such as the Patriot, and new weapons to be unveiled in the near future. The “Achilles Shield” will provide Greece with anti-aircraft, anti-ballistic, anti-ship, anti-submarine, and anti-drone coverage. Mitsotakis stressed the need for Europe to develop its own air defence umbrella through subsidies to member states.
The planning for the Greek armed forces also includes the acquisition of 20 (+20 optional) F-35 fighter jets and significant investments in the Greek Navy. These investments encompass the procurement of both second-hand and new frigates, the upgrade of Type 214 submarines as well as the purchase of new submarines, and the acquisition of missile artillery systems, drones, and surveillance systems.
Negotiations by the Greek Ministry of Defence for the detailed design of this 12-year plan are expected to begin immediately. DEFEA – Defence Exhibition Athens, scheduled for May 6–8, 2025, in Athens, is anticipated to play a catalytic role in this process. Senior officials from the European Union and NATO, national delegations, diplomatic missions, and representatives of the world’s leading defence technology companies will gather at Metropolitan Expo exhibition centre to showcase the most innovative solutions and the latest technological advancements in the fields of armaments, security, cybersecurity, and the defence and aerospace industries.
At DEFEA, a wide range of defence systems of interest to the Greek Armed Forces as well as to military and government stakeholders from around the world will be on display. Officials will have the opportunity to explore these systems firsthand and receive detailed briefings on their operational capabilities.
As always, significant agreements are expected to be signed, and new defence systems will be unveiled. Through the Matchmaking platform, which facilitates B2B and B2G meetings, participants will have the opportunity to discuss business programs and partnerships in the defence sector.
Register to attend: https://defea.gr/pre-registration/
