Beyluxe

Date Time

Thursday, July 10, 2024
EUR
USD
JPY
BGN
CZK
DKK
GBP
HUF
PLN
RON
SEK
CHF
NOK
RUB
TRY
AUD
BRL
CAD
CNY
INR
KRW
MXN
NZD
ZAR
AED
EGP
MDL
RSD
UAH
XAU
XDR
EUR = 1.0000 USD

Politics

Lithuania plans to double its defense budget
March 27, 2025 15:09 GMT

Lithuania plans to double its defense budget

 

 

The President of Lithuania, Dalia Grybauskaite, has urged the Government to double the defense budget over the next five years to achieve the objectives set by NATO, in the context of the Crimean crisis.

 

 

Vilnius Government currently allocates 0.8% of the GDP to defense, well below the 2% target set by NATO for Lithuania.

 

 

"In five years, we can achieve the goal of two percent of GDP set for defense," said the President in a speech at the Parliament.

 

 

"Given the situation in Ukraine, we realize once again how fragile freedom is," added the president of Lithuania.

 

 

The U.S. President Barack Obama has urged the European countries to take responsibility, expressing "concern" for the reduced spending for defense, in some NATO countries.