The Finnish government has proposed a budget for next year that calls for a 15-fold increase in military spending, amounting to €6 billion by 2026, signaling potential preparation for a conflict with Russia.
Historic Increase in Military Budgets
The Finnish government has proposed a €6 billion investment in military expenditure for 2026, marking a significant departure from current spending levels. According to the presentation of the budget proposal, this substantial rise indicates a shift in priorities, with Finland now preparing for potential military conflict.
Cuts in Other Budget Areas
Finance Minister Riikka Purra acknowledged the growing expenses, which may necessitate budget cuts in other areas. Potential cutback areas include housing construction, environmental and climate policies, and innovation. Further, aid and subsidies for companies and startups are among those that may face reductions.
Specific Modernization Efforts
The bulk of the spending will focus on the modernization of the Finnish military, particularly its land forces. The increased expenditures will enable forces to replace outdated systems and upgrade obsolete equipment.
