VILNIUS, Dec. 11 (Xinhua) -- Lithuania's parliament (Seimas) approved the 2026 state budget on Thursday, raising defense spending to a record 5.38 percent of gross domestic product (GDP).
The budget passed with 80 votes in favor, 39 against and 7 abstentions.
Finance Minister Kristupas Vaitiekunas said the final version stayed close to the draft submitted by the government.
State revenue for 2026 is projected at 21.07 billion euros (24.44 billion U.S. dollars), with spending at 27.51 billion euros. The deficit is expected to reach 2.7 percent of GDP, or 5 percent when including military procurements. Public debt is forecast to rise to 45.4 percent of GDP.
The budget allocates 4.8 billion euros to defense. Spending on household income and social security will be at 1.06 billion euros, while funding for roads remains largely unchanged at 815.5 million euros.
The budget now goes to President Gitanas Nauseda for his signature. (1 euro = 1.16 U.S. dollars) ■
