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Robert Kaliňák sent €100m to state and semi-state defense factories

Defence Minister Robert Kaliňák (Smer) sent €100m to state and semi-state defense factories at the end of last year. There has been no public debate about the huge sum, and apparently it has not been assessed by the Value for Money unit either. Kaliňák said the money would fund new technologies in companies that won new contracts after the Russian invasion of Ukraine. Interestingly, the increase in production also generates high profits that can be used to finance investments.

Some of the money goes to ammunition maker ZVS holding, where the state has 50%, but which is controlled by Czechoslovak Group (Michal Strnad). When Smer was not in government, Kaliňák set up a hunting rifle firm, Liwa Arms, which is located on the premises of ZVS holding. This company recently signed a €145m framework contract for the supply of ammunition for Zuzana howitzers.


Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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