On November 23, the Finnish government submitted a proposal to the parliament to amend the draft budget for 2024. Among other things, the proposal includes amendments to support Ukraine. This is reported on the government's website.
In particular, it is proposed to increase by €95.7 million the maximum amount of authorization for the purchase of military equipment for the country's armed forces for 2024-2028. The proposal will cover the cost of replacing equipment as a result of the 19th package of material assistance provided to Ukraine. Accordingly, the budget expenditures for 2024 will increase by €20.7 million. As a result of the increase, the maximum amount of procurement authorization will be €1 billion 451 million.
In addition, the government proposes to increase the capital of the Finnfund by €25 million, which will be used for investments and loans focused on Ukraine.
It is also proposed to give parliamentary approval to compensate government agencies for export guarantees issued to promote exports and investments in Ukraine in the amount of up to €50 million.