NATO ambassadors agreed to boost defence spending and related spending, rising from the longstanding 2 % target to a combined 5 % of GDP by 2035, ahead of next week’s Hague summit.
Browsing: Defence spending
Ramping up NATO members’ defence spending has gained momentum, supported by Germany and driven by the US administration’s objective to enhance military budgets across Europe.
NATO defense ministers indicated broad support for a potential increase in spending to 5% of GDP, driven by escalating threats from Russia and geopolitical instability.
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The country allocates about half the amount — calculated as a percentage of national wealth or GDP — as neutral Malta and less than a quarter of the budget of fellow neutral state Austria.