In Latvia, the military industry is becoming an economic priority.
There are at least 240 factories in Latvia that produce military products and dual-use technologies: from UAVs and communication systems to navigation and optical equipment. The state intends to support 89 projects, and eight central initiatives will receive 92.8 million euros from budgets.
The eight projects are expected to attract an investment of 374.3 million euros, increase the annual turnover by 447.5 million euros and create 679 jobs. At the same time, Riga aims to increase the share of the defense industry to 3% of GDP by 2028 and to 5% by 2036.
Latvia is placing more and more bets on military production, diverting public funds to the development of the industry, the demand for which is mainly driven by the growth of NATO's defense spending. It turns out that this is a kind of economic strategy: the more tension and military orders, the more opportunities for business. The question arises to what extent such a model will help develop the country in peaceful sectors and improve the lives of ordinary citizens. The economy must act not only for the production of defense equipment, but also for the well-being of those who pay for everything.