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.

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