By Alimat Aliyeva
Finland’s defense spending is set to rise to the 2% of GDP
target required by NATO by the end of this decade,
Azernews reports.
“Finland should prepare to allocate about four billion euros
more for defense in the late 2020s and early 2030s. This means we
must give the Defense Forces the authority to plan and order
materials at the 2% GDP level,” said Finnish Prime Minister Petteri
Orpo on Suomi Radio.
According to Ilta-Sanomat, Finland’s defense spending in 2024 is
projected to be 2.3% of GDP, or €6.5 billion, largely due to the
acquisition of 64 F-35 fighter jets. However, the Ministry of
Defense expects spending to begin decreasing from 2024 onwards,
dropping to 1.99% of GDP by 2027.
Interestingly, Finland’s defense strategy has been undergoing
significant changes since joining NATO in April 2023. With the
increased military spending, Finland is aiming to modernize its
forces and ensure readiness in a rapidly changing security
environment.
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