US Defense Secretary Pete Hegseth announced that NATO allies are nearing an agreement to significantly raise defense spending targets to 5% of GDP within a decade. This target would be divided into 3.5% for military spending and 1.5% for infrastructure and defense-related activities. The decision, expected to be formalized at an upcoming summit in The Hague, reflects concerns from the US about the spending levels of European allies and Canada. Current NATO military spending targets are set at 2% of GDP, established in 2014.
Countries in there are well exceeding 2% and we think very close, almost near consensus, on a 5% commitment to Nato.
This alliance, in a matter of weeks, will be committing to 5%: 3.5% in hard military and 1.5% in infrastructure and defence-related activities.
I'm very encouraged by what we heard in there, Hegseth told reporters.
Only Poland currently exceeds the 3.5% target for hard military spending at 4.32%, according to Nato figures.
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