Romania has significantly increased the defense budget for 2016 and plans to modernize its navy, including the “King Ferdinand” and “Queen Maria” frigates.

The Government has just approved the draft budget, which includes a 50% increase in the defense spending, and it has already received the first offers for the frigate modernization, reports local Hotnews.ro.

Swedish company SAAB presented on Wednesday several products in its naval portfolio, and British Prime Minister David Cameron, who visited Romania this week, said that the UK was interested in modernizing Romania’s fleet.

The defense budget for next year amounts to EUR 2.5 billion, or 1.4% of the GDP.

editor@romania-insider.com