Latvia has for the first time increased its defence spending in line with the NATO-mandated 2% of gross domestic product (GDP), committing an additional EUR126.8 million (USD151.2 million) year-on-year into its 2018 budget.
The Saeima has increased the 2018 defence budget to EUR576.34 million, which means it is now among a handful of NATO members that have managed to commit 2% of their GDP on defence.
According to Riga’s Medium-Term Budgetary Framework for 2018, 2019, and 2020, the budget will subsequently increase to EUR600.55 million in 2019, and EUR634.11 million in 2020, ensuring that it will remain above the 2%.
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