The 2024 budget in Lithuania, approved by the Seimas, sets the stage for defense spending to reach 2.75 percent of GDP while aiming for a budget deficit of 3 percent. Of that deficit, 2.5 percent is allocated to aid for Ukraine, signaling a continued commitment to international support alongside domestic financial management. The information comes from the Ministry of Finance and reflects the government’s published forecasts for the coming year.
In monetary terms, the 2024 draft budget projects revenues around €17 billion, a rise of about 9.2 percent or €1.4 billion compared with the 2023 plan. Expenses are projected at approximately €20.6 billion, representing a substantial increase over the prior year and marking a 10.6 percent year-on-year expansion. The balance between revenue and outlays shows a deliberate plan to support defense and foreign aid while maintaining fiscal discipline.
Public sector debt is forecast to be 3 percent of GDP in 2024, with 2.5 percent of that ratio earmarked for temporary measures related to Ukraine aid. The overarching debt level is expected to stand at about 39.9 percent of GDP. These figures illustrate a careful approach to debt management while sustaining strategic investments and international commitments.
The government has consistently raised defense expenditures, a trend that will continue into 2024 with the budget indicating a doubling of defense-related spending to exceed €2 billion and make up 2.75 percent of GDP. This sustained emphasis on security reflects the broader strategic priorities of the state and its partners in the region.
President Gitanas Nausėda has highlighted policies and actions that tie his leadership to enhanced national security. The president has spoken about a transformation in security posture and the implications of long-term commitments for the country’s safety and geopolitical resilience. His remarks underscore a steady focus on reinforcing Lithuania’s defense capabilities and regional stability.
Previously, the content from the Foreign Affairs portfolio emphasized a measured response to perceived external threats, while the overall tone from government leadership has stressed vigilance and preparedness. The public conversation around defense, economic policy, and international aid continues to shape Lithuania’s fiscal trajectory and its role on the regional and global stage, driven by a clear intent to balance security needs with prudent financial planning.