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By 2022, however, NATO leaders have once again began re-evaluating their defense budgets following Russia’s invasion of Ukraine, and by 2024, a historic number of NATO allies had met their ...
The following lists are of countries by military spending as a share of GDP—more specifically, a list of the 15 countries with the highest share in recent years. The first list uses the Stockholm International Peace Research Institute as a source, while the second list gets its data from the International Institute for Strategic Studies .
More than 20 NATO members will meet the military alliance's target of spending at least 2% of GDP on defense this year, Secretary General Jens Stoltenberg said on Monday. Speaking to the Wilson ...
Rutte said future spending would have to be much higher than the current alliance target of 2% of national wealth as measured by gross domestic product (GDP). ... -NATO head Mark Rutte warned the ...
Authorize a $886 billion spending budget for national defense programs including: [20] [21] A 5.2% pay increase for service members of the armed forces. [20] [21] Procurement of up to 13 Virginia-class submarines. [22] [23] Authorize the sale and transfer of defense articles and services relating to the implementation of the AUKUS partnership ...
On 17 June 2024, prior to the 2024 Washington summit, Stoltenberg updated that figure and announced that a record 23 of 32 NATO member states were meeting their defense spending targets of 2% of their country's GDP. [163] [164] NATO added that defense spending for European member states and Canada was up 18% in the past year alone. [163] [164]
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But even then, the US was spending $801bn a year, and other NATO members about $363bn. [8] Russia's official 2022 military budget is expected to be 4.7 trillion rubles ($75bn), [ 9 ] or higher, and about $84bn for 2023, 40% more than initial military budget announced in 2021. [ 10 ]