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Tuesday, 16.04.2024, 16:22
Latvia's defense spending may be under 2% of GDP due to strong economic growth this year - Rinkevics
Print versionThe proportion of GDP that goes to national defense is measured at the
end of each year, based on the actual, not projected, budget data. "Our
determination is one thing, but the actual data will be clear at the end of the
year," said the minister.
Taking into consideration that Latvia's economic development has been
faster than anticipated, there is a significant risk that defense spending will
not amount to 2% of GDP this year. "We won't have these 2% [of GDP]. Maybe
something closer to 1.9%. Therefore we have to look for additional financing
[for defense] already this year, if we do want to honor our commitment [to
NATO]," emphasized Rinkevics.
He also reiterated that Latvia should increase defense spending to more
than 2% of GDP. In Rinkevics' opinion, increasing defense spending to 2.5% of
GDP in five years would be an optimum choice.
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