Vucic: We will make huge investments in national defence industry

BELGRADE - Serbian President Aleksandar Vucic on Thursday announced huge investments in the national defence industry and new factories.

"Today, I spoke with the finance minister and the PM and, in line with what we have discussed with the IMF, we will make huge investments in the defence industry, but we will not be throwing money out the window but investing in new factories and, in addition, we will see about the Moma Stanojlovic Institute as well," Vucic said at the Colonel-Pilot Milenko Pavlovic Air Base in Batajnica after attending a display of newly-acquired arms and military equipment, which included 11 Mi-35P combat helicopters obtained from Cyprus and two Airbus CASA C-295 transport planes.

Vucic also said investments in the Serbian Armed Forces and arms purchases would be continued but that Serbia's financial stability would not come under threat.