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Nausėda says Lithuania's defense spending next year must exceed 5% of GDP

From Delfi · () Lithuanian

Translated from Lithuanian and summarized by DistantNews. Read the original for the full story.

At a glance

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  • Lithuanian President Gitanas Nausėda said next year's defense spending should significantly exceed 5% of gross domestic product.
  • Nausėda said he hoped the government would avoid disagreements over defense funding and approve a budget at least slightly larger than this year's allocation.
  • He also discussed tax relief for families with two or more children and plans to let residents earn higher interest on funds held in current accounts through the national development bank ILTE.

Lithuanian President Gitanas Nausėda wants next year's defense spending to rise well above 5% of gross domestic product, and hopes the governing coalition will agree without a dispute.

Nausėda made the remarks after meeting the Seimas board on Monday to discuss the work of the parliament's upcoming autumn session. He said defense and the country's demographic situation were the two main priorities, adding that he and lawmakers broadly agreed on both the problems and the solutions.

There are very serious issues facing the state, related to security and defense, as well as demographics.

· Gitanas NausėdaHe identified defense and demographic policy as the main issues discussed with the Seimas leadership.

"There are very serious issues facing the state, related to security and defense, as well as demographics," Nausėda told reporters after the meeting. He said he hoped the government would plan a larger defense budget for next year than it had planned for this year.

"I hope we will agree and will not have any divergence of views that the share of defense spending in gross domestic product must significantly exceed 5%," he said. In absolute terms, he expects the defense budget to be no smaller, and somewhat larger, than the 2026 allocation.

I hope we will agree and will not have any divergence of views that the share of defense spending in gross domestic product must significantly exceed 5%.

· Gitanas NausėdaHe described his expectation for next year's defense funding.

The president also highlighted measures to support families. His office has registered an initiative for personal income tax relief for families with two or more children, and he said he was awaiting a broader legislative package from the Ministry of Social Security and Labour.

Another priority involves making better use of money held in residents' current accounts. Nausėda said funds could be used through the national development bank ILTE to pay higher interest, giving people the choice of whether to participate. He said the approach could move Lithuania closer to the idea of a state commercial bank. The Seimas autumn session is scheduled to begin on September 10.

It would be the people's own decision whether to take advantage of such an opportunity or not.

· Gitanas NausėdaHe was discussing a possible scheme allowing residents to earn higher interest through ILTE.
About this summary

Originally published by Delfi in Lithuanian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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