Finland Makes 70% Defense Spending Increase in Shadow of War
- Nordic country’s government agreed on budget plan for 4 years
- Russia’s neighbor to boost military outlays by 2 billion euros
Finance Minister Annika Saarikko
Photographer: Valeria Mongelli/BloombergThis article is for subscribers only.
Finland’s five-party government agreed to add more than 2 billion euros ($2.2 billion) in defense spending after its neighbor Russia launched an invasion of Ukraine.
The one-time boost in expenditure represents about a 70% increase from the Nordic country’s regular 2022 military budget of about 2.8 billion euros.