MILMAG Defence & Space 02/2020 »

MILMAG - The Military MagazineFinland will increase its defense budget by 54% - MILMAG - The Military Magazine

Finland will increase its defense budget by 54%

The Government of Finland has approved the draft proposal of country’s defense budget for 2021. According to the Ministry of Defense (MoD), next year Finland will allocate approx. €4,87 billion for defense related expenditures.

The draft proposal will be discussed by the Finish parliament in October / Photo by: Finish MoD

The draft budget is higher by €1,7 billion in comparison to the current spending plan, which means an increase by 54%.

According to the Finish MoD, the main reason for such a boost in defense spending is the HX programme, which calls for the procurement of 64 modern multirole fighter aircraft. New fighters will replace currently operated Boeing F/A-18 C/D Hornets. Ilmavoimat (Finish Air Force) has in its inventory 62 Hornet aircraft, including 55 single seat (“C” variant) and 7 two seat (“D” variant).

The Finish MoD estimates that the HX programme will cost approx. €10 billion. Only next year the country will have to spend €1,4 billion for the procurement of new aircraft.

‘It is important that the security of the future is not compromised, even though we are living in economically challenging times right now. Credible self-defense must be taken care of in all circumstances.’ said Antti Kaikkonen, Minister of Defense of Finland.

Additional planned expenditure in 2021 includes €209 million for continuation of the Squadron 2020 programme, which calls for procurement of four Pohjanmaa-class multirole corvettes.

The Finish MoD will also allocate €974 million for procurement of new weapon systems and equipment, maintenance of the currently operated materials and payments.

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