Spending on Ukraine will account for most of Lithuania’s budget deficit

The Lithuanian Seimas approved the budget for 2024, which plans for defense spending to be 2.75 percent of GDP, as well as a budget deficit of 3 percent, of which 2.5 percent is for aid to Kyiv. About it reported Lithuanian Ministry of Finance.

“The draft budget for 2024 provides for almost 17 billion euros in revenues and 20.6 billion euros in expenses.”the message says.

It is noted that in 2024, public sector debt will amount to 3 percent of GDP, of which 2.5 percent will go to help Ukraine. The Ministry of Finance also noted that the Lithuanian government is increasing defense spending every year.

It was previously reported that Lithuania will receive a new batch of Switchblade 600 combat drones from the United States in 2024. Along with the UAVs, Lithuania will also receive simulators for training military personnel.