NATO allies have agreed to a new pledge to spend at least 2% of GDP on defense, firming up the alliance’s previous goal to “move toward the 2% guideline.”
(Bloomberg) — NATO allies have agreed to a new pledge to spend at least 2% of GDP on defense, firming up the alliance’s previous goal to “move toward the 2% guideline.”
Representatives of the North Atlantic Treaty Organization’s 31 member states agreed to an enduring commitment to invest at least 2%, according to people familiar with the matter. The allies are due to stress more defense spending is needed, they said.
The pledge is set to be signed off by NATO leaders when they meet for their annual summit in Vilnius July 11-12. They are also slated to agree to a package of long-term support for Ukraine, including efforts to upgrade political ties and a possible pledge to fast-track membership when conditions allow.
The alliance set its previous 10-year pledge in Wales in 2014. NATO countries have vowed to spend more on defense following Russia’s invasion of Ukraine last year, but many nations — including Luxembourg, Canada and Italy — are still struggling to comply with the old guideline.
NATO Secretary General Jens Stoltenberg said Friday that he expected allies would “set a more ambitious defence investment pledge, to invest a minimum of 2% of Gross Domestic Product annually on defense.”
Eleven of the 31 allies are expected to meet the military alliance’s goal to spend at least 2% of their GDP on defense this year, according to estimated figures published by NATO on Friday. Among the countries now reaching the target from this year are Hungary, Romania and Slovakia.
The new guideline will not have a timeline because the purpose of the pledge is that it will be enduring, a senior US official said.
–With assistance from Milda Seputyte.
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