Finland plans to raise its defence spending to 5% of gross domestic product by 2032, Prime Minister Petteri Orpo said.

The country is already committed to increasing defence expenditure to 3.5 percent of GDP […]

According to Orpo, the added military, interest and social costs will be covered through economic growth. The prime minister did not commit to any further austerity measures or borrowing to fund the proposed defence increases […]

Addition:

Sweden backs NATO’s 5% GDP Defense Spending, too, and so did already many other countries as you’ll find on the web.