Speaking to reporters after a closed-door meeting, Roncevic said that the President was satisfied with the plan and that he supported it.
Citing NATO recommendations, under which defence spending should not exceed two per cent of Gross Domestic Product, Roncevic said that this could be achieved by 2010 in view of expected GDP growth.
According to the defence minister, the document has also been favourably assessed by the National Economic Institute.
The long-term development plan covers all three branches of the Armed Forces, its backbone being the development of the Army, which should make up 80 per cent of the overall armed forces.
Regarding the Air Force, Roncevic said that new helicopters would be purchased from Russia as part of settlement of a USD 65 million debt.
Speaking of the Navy, he said that Parliament was expected to pass a Coastal Guard Act by the end of the year.
The plan also provides for the participation of some 800 Croatian troops in international peace missions.
The plan is feasible and subject to review should any new circumstances arise, the minister concluded.