NATO's New Defence Spending Targets: Meeting and Exceeding Goals

NATO members are set to meet a longstanding 2% GDP target for defense spending in 2023, while only three countries have currently reached a new 3.5% goal. Poland, Lithuania, and Latvia lead in expenditures. The alliance aims to reach 5% by 2035, emphasizing the need for capability enhancement over mere spending.

NATO members will achieve the long-established 2% GDP defense spending target this year, according to data released on Thursday. However, only Poland, Lithuania, and Latvia have surpassed the newly set 3.5% target.

Recent findings reveal that in the previous year, over ten of NATO's 32 countries still hadn't reached the 2% benchmark, which was initially agreed upon in 2014. By 2025, all members are projected to meet or slightly exceed this minimum.

The leaders have committed to achieving the 3.5% mark by 2035, as part of a comprehensive goal to allocate 5% of GDP to defense and security enhancements, including cybersecurity. NATO Secretary General Mark Rutte highlighted the importance of transforming increased budgets into effective military capacity.

(With inputs from agencies.)