Italy's F-35 Costs Surge 54 Percent as Budget Hits USD23.1B

(MENAFN) Italy is seeking parliamentary authorization for an additional €7.28 billion ($8.1 billion) in funding for its F-35 fighter jet program, pushing the project's projected overall cost more than 50% above its original budget, according to a parliamentary briefing document.

The proposed increase would lift the program's total expenditure to approximately €20.8 billion ($23.1 billion), compared with the €13.5 billion initially approved in 2009.

The additional funding is intended to cover expenses between 2027 and 2039. The government cited technological improvements, updated security requirements, inflationary pressures and fluctuations in the euro-dollar exchange rate as the main factors behind the higher projected costs.

The proposal covers Italy's continued procurement of the F-35 Joint Strike Fighter aircraft, alongside plans to expand the related industrial and technological complex in Cameri, in the country's north, according to an official parliamentary record from the Chamber of Deputies.

The draft ministerial decree, identified as Government Act No. 452, was formally presented to parliament on Oct. 30 before being forwarded to the relevant committees on Nov. 3.

The Chamber's Defense Committee has until Dec. 13 to issue its assessment, while the Budget Committee must submit its observations by Nov. 23. The proposed expenditure increase is still awaiting parliamentary review.

The move comes as European governments accelerate defense spending in response to growing security challenges following Russia's war in Ukraine, alongside mounting calls for Europe to strengthen its military capabilities and reduce security vulnerabilities.

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