Lithuania may increase defense funding by the end of the year
Minister of Finance Gintare Skiste said that the country's defense funding could be increased this year depending on the needs of the Ministry of Defense.
This is reported by LRT.
“On Tuesday, Vilnius prepared a decision to allocate 7 million euros for defense. The money will be spent on military mobility projects, and military and civilian infrastructure needed by NATO allies arriving in Lithuania.
“Discussions with the Ministry of Defense are still ongoing, so I do not rule out the possibility of additional decisions by the end of the year,” said Skyste.
She added that in case of such a decision, additional funding would be raised through a loan.
“We are talking about additional decisions, but their specific scope will become clear when the agreements are finalized,” said Skajste.
After the government allocates an additional 136 million euros, Lithuania's defense funding in 2024 will amount to 3.03% of GDP.
Author - Olena Madiak, 24/07/2024
