On March 17, the Lithuanian parliament Seimas unanimously approved a proposal to increase this year’s national defense funding to 2.52% of GDP.
The 2022 budget amendment, allocating 298 million euros in additional funding for national defense, passed the Seimas with 123 votes in favour, none against and none abstentions.
The amendment allows the state to borrow funds for its NATO membership commitments, ensuring defense allocations at 2.52% of GDP. It has yet to be signed into law by President Gitanas Nauseda.
The current budget allocates just over 1.2 billion euros, or 2.05% of GDP, to the Defense Ministry.
Around 257.6 million euros of the additional funds will be spent on the acquisition of the necessary armaments, equipment and ammunition for the Lithuanian Armed Forces, while the rest will go towards hosting NATO troops in Lithuania, the defense ministry said in a press release.
According to the Defense Minister Arvydas Anusauskas, 158.5 million euros will be spent on armaments, 66.8 million euros on the purchase of ammunition, 10.7 million euros on cyber-security and 21.6 million euros on other things, such as bullet-proof vests, communication equipment, medical supplies and others.
“The additional national defense funding will allow us to bring forward some of the previously planned acquisitions of armaments needed to strengthen the defense capability of the Lithuanian Armed Forces as well as to host additional NATO troops coming to Lithuania,” Anusauskas said.
“The presence of allies in the region is a guarantee of our security, so we need to make sure that they have the right service conditions,” he added.
Lithuania is beefing up its defense spending following Russia’s invasion of Ukraine in late February. Fears about security in the region have also led allies to send more forces to Lithuania and other eastern flank countries. (LRT/Business World Magazine)
