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Over 20 NATO countries to hit 2% defense spending by 2024

NATO Secretary General Jens Stoltenberg announced that more than 20 alliance members will meet the target of spending at least 2% of their GDP on defense this year. This increase in military spending comes in response to Russia’s seizure of Crimea in 2014, with allies stepping up their contributions. Stoltenberg emphasized the importance of this spending for both Europe and the United States, noting that a significant portion of defense acquisitions in Europe come from U.S. firms.

With preparations underway for next month’s NATO summit in Washington, Stoltenberg highlighted the growth in defense spending by NATO members. The alliance is set to address this topic at the upcoming summit, along with discussing Russia’s ongoing conflict in Ukraine. Stoltenberg also called for NATO to take a leading role in coordinating security assistance and training for Ukraine to prevent delays in aid.

Furthermore, Stoltenberg addressed China’s support for Russia and stressed the need for consequences unless Beijing changes its stance. As discussions around NATO defense spending continue, Stoltenberg emphasized the importance of allies standing together in the face of threats.

© Thomson Reuters 2024.

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