Increasing the NATO Defence Budget

by Meifan Honcharuk
Saturday, July 8, 2023
Increasing the NATO Defence Budget

In 2023, the percentage of defence sector funding in the EU and Canada will exceed the levels of the last decades

On July 11-12, a NATO summit will be held in Vilnius, including a new platform,  the NATO-Ukraine Council. Jens Stoltenberg shared information that 11 countries of the Alliance invest 2% of their GDP in defence. Some countries have already crossed this threshold. Notably, in 2014 the number of 2%+ countries was only 3. On the 11th, the secretary general plans to call on countries to increase defence sector funding to at least 2% of GDP in 2023.

According to a document published on the NATO website, the leaders in terms of GDP and defence financing ratios are the states:

  • Poland — from 3.9%;
  • USA — from 3.49%;
  • Greece - 3.1%.

Next come Estonia, Lithuania, Finland, Romania, Hungary, Latvia, Great Britain, and Slovakia. According to Stoltenberg, Canada and the EU countries will increase the percentage of investment in defence by 8.3% — this figure exceeds all indicators of the past 20 years.

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