Finland to raise Defense budget 2023 to 2.25 percent of its GDP

Defense News September 2022 Global Security army industry
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Visegrad24 tweeted on September 5 that Finland will raise its military spending by 20% in 2023, increasing it to 2.25% of GDP.
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The breakdown of the Defense figures include 690 million euros for the Ministry of Defense’s branch of government and for the Finnish Border Guard, 38 million euros aimed at improving cyber security and some 293 million euros to support the nation's security of supply. (Picture source: Finnish MoD)

Last May 5, Finland's government already proposed increasing net spending by about 2.3 billion euros in its second draft supplementary budget for this year. The two main areas of spending are national Defense, in light of Russia's invasion of Ukraine, and measures aimed at mitigating the harm caused by the Covid pandemic to children and young people. "Finland’s security environment has changed following Russia's war of aggression in Ukraine, and this requires immediate measures to bolster defense capability and border security," a government press release noted, adding that 2 billion euros will be allocated to Defense budgets.

The breakdown of the Defense figures include 690 million euros for the Ministry of Defense’s branch of government and for the Finnish Border Guard, 38 million euros aimed at improving cyber security and some 293 million euros to support the nation's security of supply.

Military expenditures data from SIPRI are derived from the NATO definition, which includes all current and capital expenditures on the armed forces, including peacekeeping forces; defense ministries and other government agencies engaged in defense projects; paramilitary forces, if these are judged to be trained and equipped for military operations; and military space activities. Such expenditures include military and civil personnel, including retirement pensions of military personnel and social services for personnel; operation and maintenance; procurement; military research and development; and military aid (in the military expenditures of the donor country).
Finland's military spending/defense budget for 2020 was $4.09B, a 12.62% increase from 2019.
Finland's military spending/defense budget for 2019 was $3.63B, a 3.39% decline from 2018.
Finland's military spending/defense budget for 2018 was $3.76B, a 9.5% increase from 2017.
Finland's military spending/defense budget for 2017 was $3.43B, a 0.47% increase from 2016.