Lithuanian defence budget to rise to 1% GDP in 2015
Over 1.3 billion litas (EUR 0.376 billion) will be spent on defence in Lithuania in 2015, compared to 980 million litas, or 0,78 percent GDP this year, he said. But the Seimas of Lithuania plans next week to approve the allocation of additional 130 million litas for defence for this year.
“We are talking about the next year’s budget. We believe and the government has agreed that we should reach 1 percent GDP. That would stand at over 1.3 billion,” the minister Juozas Olekas told journalists.
Lithuania is increasing defence expenditure in response to Russia’s aggression in Ukraine.
NATO countries are committed to spend 2 percent of their GDP on defence but the majority spend less. Lithuania comes next-to-last in terms of defence spending among NATO countries.