2021.10.11 15:17

Lithuania to up defence spending to 2.05 percent GDP

BNS2021.10.11 15:17

The Lithuanian government has proposed increasing the national defence budget by 128 million euros to 2.05 percent of GDP, Finance Minister Gintarė Skaistė said on Monday.

"It was 2.03 percent of GDP in 2021, and the proposal is 2.05 percent of GDP in 2022," the minister said in a press conference, presenting the 2022 budget bill.

Skaistė said there was an existing agreement between the Lithuanian political parties to gradually increase the defence spending to 2.5 percent of GDP by 2030.

This year's defence budget initially amounted to 1.028 billion euros However, the government allocated additional 20.7 million euros during a budgetary review, as the country's economy was growing faster than expected and it would have resulted in the defence spending standing below the NATO’s recommended 2 percent of GDP.

Read more: Lithuania’s new defence chief on modernisation, independent battalions, conscription and Syria – key takeaways

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