Helsinki : Finland plans to raise its defence spending to at least 3% of its gross domestic product by 2029, according to a government statement on Tuesday.
The government also announced its intention to withdraw from the 1997 Ottawa Convention, which prohibits the use and stockpiling of anti-personnel landmines. This move would enable Finland to resume stockpiling landmines if deemed necessary.
Several European countries, including Poland, Estonia, Latvia and Lithuania, have recently indicated similar plans to exit the treaty.
Finnish Prime Minister Petteri Orpo stated that while there is no immediate military threat to the country, enhanced preparedness and investment in defence capabilities are considered essential.
He confirmed that an additional 3 billion euros ($3.24 billion) would be allocated to national defence efforts, raising military spending from 2.41% of GDP in 2024 to 3% by 2029.
