23 Mar, 09:24··

Latvia to spend at least 5% on defense.

LSM

The Latvian parliament approved a law. It says the country must spend at least 5% of its money on defense. This will start in 2027.

The Saeima passed the law on March 26th. President Edgars Rinkēvičs suggested this change. The goal is to improve Latvia’s defense. The government needs 92 million euros extra. This will change the country’s budget.

Summarized from the sources above. Read the originals for the full story.

Highlights

Saeima Sets Defense Spending

The Latvian parliament approved a 5% GDP defense spending target from 2027.

Increased Defense Budget Needed

Latvia needs an extra 92 million euros for defense next year.

Rinkēvičs Proposed Increase

President Rinkēvičs suggested raising defense spending through a law change.

Budgetary Adjustment Required

The Ministry of Finance says a big change is needed.

Targeting 5% of GDP

The goal is to spend at least 5% of Latvia’s GDP on defense.

defensebudgetlatviafinance