Finland boosts defense budget to strengthen military, NATO ties in 2025

Source
Xinhuanet
Editor
Li Jiayao
Time
2024-12-19 23:11:48

HELSINKI, Dec. 19 (Xinhua) -- Finland's Ministry of Defence announced on Thursday a defense budget of 6.5 billion euros (6.67 billion U.S. dollars) for 2025, marking an increase of 536 million euros from this year.

The budget emphasizes enhancing national defense capabilities and supporting Finland's integration into NATO, with defense spending projected to account for about 2.5 percent of the country's gross domestic product.

The allocation includes 2.5 billion euros for military operations, which covers personnel salaries, conscription training, and equipment maintenance. Additionally, 202 million euros is designated for aircraft procurement and other defense materials over the next five years.

A further 1.5 billion euros is dedicated to acquiring new defense materials, while 431 million euros will be used for long-term improvements in military systems.

Finland's defense expenses related to the North Atlantic Treaty Organization (NATO) are also included, with 158 million euros allocated to cover costs arising from membership. This includes investments to facilitate NATO's presence in Finland, enhance interoperability and strengthen troop reception capabilities. (1 euro = 1.04 U.S. dollar)

In April 2023, Finland formally became NATO's 31st member state. At NATO's July summit this year, the member states approved the establishment of the Multi Corps Land Component Command and the deployment of Forward Land Forces in Finland.

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