• Monday, January 27, 2020

Lithuania to increase defense budget

Discussion in 'Europe & Russia' started by Vergennes, Jul 5, 2016.

  1. Vergennes

    Vergennes PROFESSIONAL

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    According to an estimate of the Ministry of Finance, Lithuania intends to increase defense spending by 150 million euros next year, up to 725 million euros, Kauno Diena reported.

    The current Lithuanian military budget is 575 million euros, approximately 1.48% of the country’s GDP. It is expected that next year's defense spending will rise to 725 million euros, or 1.77% of GDP.

    According to Lithuanian Minister of Defense Juozas Olekas, the country plans to spend 2% of GDP on defense in 2018.

    http://uawire.org/news/lithuania-to-increase-defense-budget