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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
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]
NATO estimated that 23 of its members met its current goal of spending 2% of GDP in 2024. “The 2% is not enough,” Rutte told a European Parliament committee session in Brussels.
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.
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.
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. April 10, 2024 at 7:16 AM.
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 ...
The transatlantic alliance reached a milestone in 2024 when all non-U.S. NATO allies spent the 2% ... The U.S. contributes 3.4% of its GDP and about 16% of NATO's annual budget. Poland is in top ...