Finland raises defense spending to required NATO level

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.