Lithuania allowed an increase in defense funding this year

Financing of the defense sector in Lithuania this year has already slightly exceeded 3% of gross domestic product (GDP), but it can be further increased.

This was stated by the Minister of Finance of Lithuania Gintare Skiste, LRT reports.

"Additional needs are currently being assessed. During the year, we will see how well these opportunities can be realized, but I certainly would not rule out that additional decisions may be made to increase defense funding," said Skyste.

According to her, this year's defense funding may be increased by borrowing.

"We have a certain space of up to 3% of GDP in the budget deficit, and obviously, this space can be used, according to the current regulation, according to the budget law, for additional defense procurement," said Skyste.

"Today there is some space (for borrowing - ed.), these needs are being assessed," she said.

Author - Olena Madiak, 03/07/2024