The deadline for the submission of the Investment Plan for the Argentine Armed Forces linked to the National Defense Fund (FONDEF) for the current year was March 31st. However, to date, no information has been provided, leaving a gap in budgetary and strategic planning in this area.
The FONDEF for the current year represents 0.8% of the national revenue, estimating an amount between 400 and 500 billion Argentine pesos, approximately 500 million US dollars. This fund, which the governing coalition mentioned during the campaign would progress with regulation, still lacks concrete news regarding a project in this regard.
The absence of the Investment Plan linked to FONDEF raises questions about the impetus it represents for equipment acquisitions and development for the country’s Armed Forces. Although significant progress has been made, such as the significant acquisition by the Argentine Air Force of the F-16 system, derived from several years of planning, the crucial modernization of the Argentine Army and Navy requires a credible and sustained investment strategy.
It is crucial to address needs that have been postponed during multiple previous administrations, such as the acquisition of wheeled armored vehicles, medium utility helicopters, the renewal of the surface fleet, and the recovery of submarine capability. The lack of a transparent and detailed investment plan for the year 2024 could negatively impact the operational capacity and modernization of the Argentine military forces.
On the other hand, the Ministry of Defense has obligations to report to Congress on the use of funds associated with FONDEF, which the current administration has accused the previous administration of using for current expenses.
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