Thu. Jun 13th, 2024

The President of Lithuania proposes to increase defense spending to 3.5% of GDP

Natasha Kumar By Natasha Kumar May27,2024

Lithuanian President proposes to increase defense spending to 3.5% of GDP

Lithuanian President Gitanas Nauseda, re-elected for a second term last week, said that “in the coming years” the country's defense spending should increase to 3.5% of the gross domestic product.

This is written by “Europeyska Pravda” with reference to LRT.

According to Nauseda, Lithuania should strive for a minimum of defense spending in the coming years 3.5% of GDP, and this is the number “which we can justify with the needs that are relevant at the moment”. and the readiness to introduce general military conscription in the country.

“All this requires very significant financial resources, we must allocate them, because it… ensures everything else – well-being, a sense of security,” Nauseda added.

In 2024, Lithuania's state budget allocates 2.7% of GDP to defense needs. Last week, the Lithuanian Ministry of Finance submitted proposals to increase defense funding, while the government intends to spend 3% of GDP for these purposes starting in 2025.

Let us remind you that the current president of Lithuania, Gitanas Nauseda, won the second round of elections after counting the votes at all polling stations. He will take the oath in July and start the second term. five-year term.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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