The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

World

Record 18 NATO states expected to meet 2% defense spending threshold this year

by admin February 16, 2024
February 16, 2024
Record 18 NATO states expected to meet 2% defense spending threshold this year

Eighteen of NATO’s 31 members are expected to spend at least 2% of their GDP on defense this year, the treaty organization’s leader said on Wednesday.

“That is another record number and a six-fold increase from 2014 when only three allies met their target,” NATO Secretary-General Jens Stoltenberg said Wednesday ahead of a meeting between the alliance’s defense ministers in Brussels.

Former US President Donald Trump, who is running for reelection in November, brought renewed scrutiny to the issue of defense spending among NATO members last weekend, when he said at a rally he would encourage Russia to do “whatever the hell they want” to any NATO member country that doesn’t meet spending guidelines on defense – effectively undercutting the collective defense clause at the heart of the treaty.

Stoltenberg said Monday such comments put European and American soldiers at an increased risk.

“Any suggestion that allies will not defend each other undermines all of our security, including that of the US, and puts American and European soldiers at increased risk,” Stoltenberg said.

The NATO chief acknowledged on Wednesday that criticism of members not spending enough was “a valid point … and a message that has been conveyed by successive US administrations, that European Allies and Canada have to spend more, because we haven’t seen fair burden sharing in the alliance.”

To better share that burden, NATO members pledged a decade ago to increase their defense spending to 2% of GDP for each country.

Among the countries to hit the target recently is Germany. The German Defense Ministry said Wednesday that its 2024 budget will see its defense spending meet the 2% threshold for the first time since the early 1990s.

As a whole, NATO’s European allies are expected to spend 2% of their combined GDP on defense for the first time this year.

This post appeared first on cnn.com

0
FacebookTwitterGoogle +Pinterest
previous post
Two Chinese fishermen drown during pursuit by Taiwan coast guard
next post
Israeli hostage families seek justice with war crimes complaint against Hamas

Related Posts

Why Gaza’s largest hospital has become the ‘epicenter’...

November 16, 2023

Everything we know about the funeral of Pope...

April 23, 2025

Panda express: First pair to enter the United...

June 28, 2024

Iran is increasing its stockpile of near weapons-grade...

November 20, 2024

China investigates a top military official as Xi’s...

November 28, 2024

Japan’s 18-year-old prince, second in line to the...

March 4, 2025

Facing difficult frontline reality and the prospect of...

July 20, 2024

India suspends 141 lawmakers as ruling BJP accused...

December 21, 2023

Climate activist Greta Thunberg joins aid ship sailing...

June 2, 2025

Xi shakes up China’s military in rethink of...

April 28, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,578)
    • Investing (4,641)
    • Politics (6,095)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved