With increased threats to state security, it will be necessary to allocate an additional EUR 350 million towards defense, said Latvian Minister of Artis Pabriks.
According to him, the Ministry of Defense has compiled of list of need it would like satisfied and plans the ministry would like to see executed more quickly. The minister intends to speak with representatives of the Saeima and the government about these plans and increased expenditures.
“We can see that the challenges, especially coming from Russia, will not go away overnight. We can see Estonia has also provided additional financing to its military and internal affairs to promote faster development of armed forces,” stresses Pabriks.
Similar discussions have commenced in Lithuania as well.
“I don’t think we have the luxury of waiting. Our plans for armed forces and the defense sector in general have an approximately 12-years development perspective. Considering how the current situation unravels, we do not have 12 years to wait,” said the politician.
He believes Latvia should focus on reaching a defense budget of approximately 2.5% of GDP in the next three years. This will make it possible to complete tasks that would normally take seven or ten years in two or three years.
Pabriks said that in the next three to three and a half years the defense sector would need additional financing of approximately EUR 350 million.
With threats to state security up, the Ministry of Defense would like to see additional budget increase for the next three years, and Pabriks hopes the current government will be the one to decide on this.
The minister has turned to the State President’s Chancellery and Prime Minister Krisjanis Karins with a proposal to look for ways for Latvia to invest in defense in the next three years.
Pabriks has also ordered the Ministry of Defense and National Armed Forces to prepare detailed plans for additional investments in defense.
“We will present offers and requests, and I will be prepared to present documents to the PM and the President next week,” he said last week.
Pabriks believes the current government should take this step because the threats to Latvia’s safety will not decrease and time is of the essence.
In 2022, the country’s defense budget will be no less than 2% of the state budget or EUR 758.35 million. This is an increase of approximately EUR 49 million when compared to 2020. (BNN/Business World Magazine)