NATO nations wont accomplish spending goals anytime soon
Date
12/26/2024 7:24:59 AM
(MENAFN) NATO member states are reportedly worried about their ability to meet the defense spending goals that could be imposed under incoming US President Donald Trump, according to a report by Spanish newspaper El Pais published on Monday. The debate within the alliance centers on a potential increase in the defense spending requirement for its 32 members to 3% of their GDP, a move that could be formalized at the next NATO summit in The Hague in July.
However, some members have expressed concerns that this target is unrealistic. One diplomatic source suggested that a more gradual increase could be agreed upon, but emphasized that the priority should be ensuring all members meet the previously agreed-upon floor of 2%, rather than aiming higher.
The report highlights that many European countries, including major economies like Germany and France, may struggle to increase military spending due to already tight budgets. Currently, these countries contribute just over 2% of their GDP to defense. Eight NATO members, including Spain, Slovenia, and Belgium, have particularly come under scrutiny for failing to meet the current 2% target. Spain, for example, contributes just 1.28% of its GDP to military spending and plans to reach 2% by 2029.
Despite pressure within the alliance to meet these targets, sources in some countries have indicated that raising the spending requirement to 3% is not widely accepted. Meanwhile, Russian officials have warned that NATO's military expansion could lead to further tension with Russia. Russian Deputy Foreign Minister Alexander Grushko cautioned that NATO's current path poses a threat to both Russia and global security, while Defense Minister Andrey Belousov suggested that a direct confrontation between Russia and NATO in Europe could be a possibility within the next decade.
MENAFN26122024000045015687ID1109032146
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.