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Lithuania to ramp up military spending, PM says

Lithuania to ramp up military spending, PM says
Lithuania to ramp up military spending, PM says -  Copyright  Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
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VILNIUS - Lithuanian political parties have agreed to support a government proposal to increase defence spending in 2022 to more than 2.5% of gross domestic product (GDP), Prime Minister Ingrida Simonyte said on Monday.

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"This will give us resources for purchases which are now moved forward due to the changing situation," Simonyte told a news conference.

Lithuania's original plan was to spend 1.2 billion euros ($1.31 billion) in 2022, corresponding to 2.05% of GDP.

($1 = 0.9158 euros)

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