CONTENT PREVIEW
Industry

Finnish MoD proposes bigger budget

14 August 2018

Finland's Ministry of Defence (MoD) has proposed a EUR3.2 billion (USD3.6 billion) defence budget for 2019, a EUR326 million, or 11%, increase from 2018.

The ministry said on 9 August that this would increase the defence budget's share of GDP from 1.23% in 2018 to 1.32% in 2019.

The MoD attributed much of the increase – EUR260 million – to spending on the Laivue (Squadron) 2020 programme to build a new class of four multipurpose offshore patrol vessels.

Nearly EUR1.2 billion, or 43.6%, of the budget will be allocated to equipment readiness. Defence procurement contracts, including for Laivue 2020, account for EUR771 million.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes





(127 of 155 words)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT