Breaking news
Lithuania's parliament approved a 35% increase for the country's 2016 defense budget.
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Defence & Security News - Lithuania
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| Lithuania's parliament approved a 35% increase for the country's 2016 defense budget | |||
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Lithuania's parliament approved a 2016 budget on Thursday that boosts defense spending by 35%. Lithuania, a small Baltic State, has been strengthening its defense capabilities in the aftermath of conflicts in Eastern Ukraine and tensions with Russia.
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 Lithuania approved a $630mn-strong budget for 2016 |
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“I very much welcome the decision of the Seimas to increase the defence budget. It prepares the grounds for a consistent Government’s policy of strengthening defence of the state, i.e., to plan further modernisation of weaponry, to enhance social securities for military personnel, to boost the appeal of military service, and to ensure the commitments to NATO allies,” Minister of National Defence J.Olekas said commenting on the Law on the Approval of Financial Indicators of the State Budget and Municipal Budgets of 2016 of the Republic of Lithuania the Seimas had adopted.
According to the Law, appropriations for the Ministry of National Defence in 2016 will amount to EUR 575,2 million ($630 mn, 1.48 % of GDP) which exceeds the Defence Budget 2015 by EUR 150 million ($164 mn). For comparison, the Defence Budget approved for 2015 amounted to EUR 425 million ($465 mn, 1.15 % of GDP). |
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