FAMAGUSTA GAZETTE – Finland’s Ministry of Defence announced plans to increase national defence spending to at least 3% of GDP by 2029, a proposal by Defence Minister Antti Hakkanen approved by the Ministerial Committee on Economic Policy.
The increase includes 3.7 billion euros ($4 billion) of additional funding over four years, starting in 2025, to enhance critical defence functions, sustain materiel, and improve capabilities for prolonged combat operations.
Finland’s military expenditure will reach 2.5% of GDP in 2025, ranking among NATO’s top spenders.
The move responds to security concerns outlined in a Government Defence Report, citing Russia’s military developments and ambitions as long-term threats.
The report stresses the need for Finland to withstand military pressure with national resources while maintaining broad-spectrum defence capabilities.