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Lithuania is set to be raised by €150 million in 2017 according to a draft of 2017-2019 state budgets developed by the Finance Ministry.
Lithuania set to raise 2017 defence budget by further €150m
© DELFI / Mindaugas Ažušilis

The increase would bring the country’s annual defence budget up to €725 million next year or 1.77% of GDP. The draft budget will be discussed at the government's meeting later on Monday.

This year's budget envisages state spending of €575 million on defence amounting to 1.48% of the gross domestic product (GDP).

Defence Minister Juozas Olekas said the government will ensure that the defence budget will reach 2% of the GDP as required by NATO by 2018.

Lithuania has been lacking behind NATO Allies in terms of defence spending over a long period

However, it has implemented a steep increase in funding over the last few years in response to Russia's actions in Ukraine and its military activity in the Baltic Sea region.

BNS
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