AGL 37.55 Increased By ▲ 0.05 (0.13%)
AIRLINK 218.49 Decreased By ▼ -4.40 (-1.97%)
BOP 10.68 Decreased By ▼ -0.14 (-1.29%)
CNERGY 7.32 Decreased By ▼ -0.24 (-3.17%)
DCL 9.10 Decreased By ▼ -0.32 (-3.4%)
DFML 40.35 Decreased By ▼ -0.61 (-1.49%)
DGKC 102.20 Decreased By ▼ -4.56 (-4.27%)
FCCL 34.40 Decreased By ▼ -2.67 (-7.2%)
FFL 19.50 Increased By ▲ 0.26 (1.35%)
HASCOL 12.82 Decreased By ▼ -0.36 (-2.73%)
HUBC 130.69 Decreased By ▼ -1.95 (-1.47%)
HUMNL 14.42 Decreased By ▼ -0.31 (-2.1%)
KEL 5.27 Decreased By ▼ -0.13 (-2.41%)
KOSM 7.20 Decreased By ▼ -0.28 (-3.74%)
MLCF 45.45 Decreased By ▼ -2.73 (-5.67%)
NBP 65.79 Decreased By ▼ -0.50 (-0.75%)
OGDC 220.12 Decreased By ▼ -3.14 (-1.41%)
PAEL 44.25 Increased By ▲ 0.75 (1.72%)
PIBTL 9.08 Increased By ▲ 0.01 (0.11%)
PPL 192.28 Decreased By ▼ -5.96 (-3.01%)
PRL 41.60 Decreased By ▼ -0.64 (-1.52%)
PTC 26.69 Decreased By ▼ -0.70 (-2.56%)
SEARL 107.29 Decreased By ▼ -2.79 (-2.53%)
TELE 10.32 Decreased By ▼ -0.20 (-1.9%)
TOMCL 35.86 Decreased By ▼ -0.76 (-2.08%)
TPLP 14.48 Decreased By ▼ -0.47 (-3.14%)
TREET 25.86 Decreased By ▼ -0.67 (-2.53%)
TRG 67.34 Decreased By ▼ -1.51 (-2.19%)
UNITY 33.50 Decreased By ▼ -0.69 (-2.02%)
WTL 1.75 Decreased By ▼ -0.04 (-2.23%)
BR100 12,291 Decreased By -72.5 (-0.59%)
BR30 37,354 Decreased By -863.8 (-2.26%)
KSE100 116,637 Decreased By -482.9 (-0.41%)
KSE30 36,770 Decreased By -166.8 (-0.45%)

BUDAPEST: Hungary agreed Wednesday to buy $1 billion worth of air-to-air missiles from the US, a deal which Washington's envoy in Budapest described as the EU member's biggest-ever procurement from his country.

Hungarian Defence Minister Tibor Benko signed a letter of intent to buy Advanced Medium-Range Air-to-Air Missiles (AMRAAM) with US Ambassador David Cornstein, according to Hungary's MTI news agency.

The purchase of the mid-range missile system made by US firm Raytheon Technologies is NATO member Hungary's "largest-ever defence procurement" from the US, Cornstein said in a statement.

The approximately $1 billion (850,000 euros) acquisition will "overhaul and modernise Hungary's air defence capabilities and allow it to transition away from its current legacy Soviet system," he said.

Prime Minister Viktor Orban's government has been hiking spending on the previously underfunded military in recent years.

The proportion of Hungarian GDP spent on defence rose from 0.95 percent in 2013 to 1.21 percent in 2019.

But US Secretary of State Mike Pompeo left out Budapest from the itinerary of a tour of Central European countries this week to discuss US troop deployments, as well as Chinese and Russian influence in the region.

Comments

Comments are closed.