Greece to spend more than 25 bln euros in arms procurements by 2036

Greece is set to spend more than €25 billion on military procurements by 2036 as part of an extensive 12-year defense modernization plan, which will soon be submitted to parliament, according to three officials familiar with the matter.

The initiative aims to strengthen Greece’s armed forces in the wake of the 2009-2018 debt crisis, which led to years of austerity, while also keeping up with regional rival Turkey. The two neighboring countries have long-standing disputes over maritime boundaries, energy reserves, and airspace in the eastern Mediterranean.

Strengthening Greece’s Military Power

The proposed plan builds on recent defense upgrades. Greece, a member of both the European Union and NATO, already allocates nearly 3% of its GDP to defense spending—almost double the EU average—as European nations face increasing pressure to bolster their security amid geopolitical tensions.

According to sources involved in the preparation of the plan, key military acquisitions will include:

• Four new submarines
• A fleet of air, naval, and underwater drones
• A new communications satellite

Additionally, a portion of the budget will go toward the development of Achilles Shield, a state-of-the-art anti-aircraft and anti-drone defense system, as well as the procurement of 20 F-35 fighter jets from the United States.

Upgrades to Existing Fleet and New Naval Investments

Greece also plans to modernize its existing fleet, upgrading its older F-16 fighter jets to the advanced “Viper” configuration and enhancing four German-made MEKO 200 frigates currently in service with the navy.

Furthermore, a third source revealed that up to six new large patrol vessels or corvettes will be constructed in Greek shipyards, boosting the country’s naval capabilities.

New Long-Range Artillery for Border Security

This latest plan aligns with previously announced defense initiatives, including the procurement of a long-range rocket artillery system with a striking distance of up to 300 km. The primary focus of these systems will be to safeguard Greece’s northeastern borders with Turkey and enhance the defense of its Aegean islands.

With these significant investments, Greece is reaffirming its commitment to national defense and security, positioning itself as a key player in the geopolitical landscape of southeastern Europe.