Lithuania to invest 51 million euros in defense spending

  • 2014-07-31
  • From wire reports, VILNIUS

Lithuania's government has approved plans to allocate an additional 13 million euros into national defense this year.

The additional funding means Lithuania will invest a total of 51 million euros into national defense after officials agreed to an original 38 million euros earlier this year.

Deputy Minister of National Defense Antanas Valys said the recent crisis in the Ukraine was behind the increase in military spending.

"The current situation that has developed during the pre-crisis period is such that defence spending has been reduced and following the changes in security situation in our Eastern neighbor and international relations in Eastern Europe, a more serious attention to defence is necessary." 

According to the deputy minister, additional financing will be allocated to restore military capacities and to strengthen the support of a host country.

Lithuania's Minister of  Defense Juozas Olekas said additional funds would be invested in anti-aircraft missile systems, medium range anti-tank defence systems and ammunition. Other plans include developing the infrastructure of training grounds and training conditions to activate investment projects.

The law adopted by the Seimas on July 10 provides for appropriations amounting to 13 million euros to be allocated this year to national defence from the privatization fund and 25 million to be allocated from the budget.

Lithuania has committed to gradually augment defence spending in order to reach two percent of GDP by 2020.