Finland wants higher 2024 budget to boost Ukraine aid capacities

The Finnish government submitted a proposal for changes in the 2024 draft budget that includes, among other items, a higher spending limit for Ukraine aid, the country's finance ministry said on Nov. 23.

The upper threshold for defense spending for the period 2024-2028 would be raised by almost 96 million euros ($105 million) to cover costs for the previously announced 19th aid package for Kyiv.

Expenses for 2024 would be increased by 20.7 million euros ($22.6 million). Previously, the Finnish Defense Ministry's draft budget for the following year allocated 242 million euros ($264 million) for the replacement of military equipment sent to Ukraine.

The government also proposed to provide a further 25 million euros ($27 million) in investment and lending expenses in Ukraine to facilitate the participation of Finnish companies in reconstruction efforts.

Helsinki announced its 20th military aid package for Ukraine worth 100 million euros ($109 million) on Nov. 17, adding to the total of $1.6 billion in defense assistance pledged since the start of Russia's full-scale invasion.