Government raises defence spending by EUR 97.5mn

The Government Wednesday gave the green light to allocating additional EUR 97.5 million for the Ministry of National Defence from the funds borrowed by the state, the Finance Ministry said.

After the Ministry of Finance updated the GDP forecast, the defence spending for 2023 was increased by EUR 97 million 548 thousand. This should ensure that up to 2.52% of the gross domestic product (GDP) is allocated to fulfilling Lithuania’s obligations related to NATO membership, the ministry said in a press release.