Estonian Parliament adopts state budget for 2024 with record defense spending

The Riigikogu (parliament) of Estonia adopted the state budget for 2024 with record defense spending of 3.2% of the gross domestic product (GDP), Report informs via TASS.

58 deputies voted for the project proposed by the government, and 31 were against.

In 2024, the defense budget will exceed 3% of gross domestic product for the first time and amount to 3.2% of GDP. More than €1.3 billion is allocated for defense.

Revenues are planned at €16.8 billion, expenses will be about €17.7 billion. State revenues will increase by €1.2 billion, or 7.7% and expenses will rise by €0.8 billion, or 4.9%, compared to the this year's budget.