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In 2023, 11 Nato countries spent the equivalent of at least 2% of GDP on defence. ... Defence spending: How Nato countries compare. Ian Jones, PA. July 10, 2024 at 5:21 AM.
During last year's U.S. presidential election campaign, Trump proposed a 3% target, adding this would mean a defence budget increase of about 30% for most NATO countries. SPENDING SURGE
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.
Nato asks every member country to spend at least 2% of national income - also known as GDP - on defence. It is thought that 23 countries met that target in 2024 , compared to only three in 2014. [BBC]
Authorize a $886 billion spending budget for national defense programs including: [20] [21] A 5.2% pay increase for service members of the armed forces. [20] [21] Procurement of up to 13 Virginia-class submarines. [22] [23] Authorize the sale and transfer of defense articles and services relating to the implementation of the AUKUS partnership ...
Military expenditure of the world from 1950 to 2022 in constant 2021 US$ billions Defense spending in the UK over time Main article: Past military expenditure by country The Saturday Review magazine in February 1898 outlined the levels of military expenditure as a percentage of tax revenue spent by the then great powers for the year 1897: [ 8 ]
The transatlantic alliance reached a milestone in 2024 when all non-U.S. NATO allies spent the 2% target on average for the first time. Trump says NATO countries are 'taking advantage' and should ...
However, federal spending increased relative to state and local spending as a result of World War I and World War II, and by the 1930s, state and local government spending accounted for less than one half of government spending. By 2019, federal spending was more than 20% of GDP, while state and local spending hovered around 17% of GDP.