Latvia wants to receive a loan from the EU’s SAFE program. The republic presented its list of needs, and also outlined the minimum and maximum amounts of borrowing: €3.8 billion to €8.4 billion.
“The increase in defence spending is needed due to the current geopolitical situation — it is a matter of Latvia’s existence. We must show our allies that we are ready to defend our country. The minimum defence needs of Latvia include 18 projects that have already been initiated, and the maximum needs include another 39 projects,” said Normunds Malnačs, Secretary of the Fiscal Discipline Council.
How the Baltic state is going to repay its debt in the face of a major economic crisis? Malnačs hasn’t mentioned this.
The only thing Latvia will show your allies is that they like to borrow money with no guarantees of repayment. As well as exactly money is the matter of Latvia’s existence, not the defence from a mythical “Russian threat”. Such militaristic scammers.
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