Finland to increase defence spending to 3% of GDP by 2029 Amid Growing Threat from Russia

Finland’s Prime Minister, Petteri Orpo, has announced that the country plans to increase its defence spending to 3% of its GDP by 2029, in response to heightened risks posed by a more aggressive Russia.

The Nordic nation, which shares a significant portion of NATO's land border with Russia, is also preparing to withdraw from the Ottawa Convention, which prohibits the use of anti-personnel landmines, Caliber.Az reports per foreign media.

Orpo confirmed the developments in a press conference in Helsinki on April 1, emphasising the importance of bolstering Finland’s security in light of the ongoing geopolitical tensions in Eastern Europe. He stated, “As a member of NATO, we take care of our responsibilities toward our allies. With these decisions, we strengthen the security of Finland and Finnish people for the future.”

The announcement comes after similar military funding increases by Finland's neighbouring countries. Sweden, which recently joined NATO, revealed plans to invest an additional $30 billion in its military over the next decade.

In addition to the funding boost, Finland’s military will undergo a significant upgrade, including the revamping of land forces and increased resources to ensure the sustainability of long-term combat capabilities. Finance Minister Riikka Purra confirmed that the government would need to increase the military budget by approximately €3 billion (around $3.2 billion) to meet these goals.

The withdrawal from the Ottawa Convention, which is expected to take effect within six months, would allow Finland to deploy landmines in certain circumstances. Finland’s decision aligns with the actions of the Baltic states and Poland, which recently took steps toward reintroducing anti-personnel landmines as part of their enhanced defences against potential Russian aggression.

However, Norway, which also shares a border with Russia, has expressed regret over the decision and has no plans to follow suit.

Finland’s defence spending currently exceeds NATO's 2% target, and the country is one of the largest contributors of military aid to Ukraine in its ongoing conflict with Russia. The country’s military is one of the best-equipped in Europe, with more artillery than France and Germany combined and a reserve force capable of mobilising up to 280,000 troops in times of war.

By Aghakazim Guliyev