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Finance

Posted By Global Banking and Finance Review

Posted on January 17, 2025

Lithuania to allocate 5-6% of GDP for defence in 2026-2030, foreign minister says

VILNIUS (Reuters) - Lithuania has committed to allocating 5% to 6% of its GDP for defence between 2026 and 2030, its foreign minister said on Friday.

"Difficult times require bold decisions and leadership. We call on our allies to follow this lead. The era of passive 'sit-and-wait' strategies is over", Foreign Minister Kestutis Budrys wrote on social media platform X.

(Reporting by Andrius Sytas, editing by Stine Jacobsen and Louise Breusch Rasmussen)

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