Lithuania’s defence spending for 2023 has been increased by 97.5 million euros after updating the country’s GDP forecast, the Finance Ministry said on Wednesday.
According to the ministry’s press release, the aim of additional funding is to ensure the allocation of at least 2.52 percent of GDP for the needs of national defence this year.
The government on Wednesday adopted a resolution allocating additional 97.5 million euros from the funds borrowed on behalf of the state for the fulfilment of the obligations related to the country’s NATO membership.
“This will additionally strengthen the national defence capabilities in the context of the war waged by Russia,” the press release quoted Finance Minister Gintarė Skaistė as saying.
The Defence Ministry has said it will use additional funds for speeding up certain planned acquisitions, for instance, of multiple launch rocket systems, combat drones, as well as other arms and ammunition.
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