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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.

"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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