NATO allies have reached a consensus to raise the defense spending target to 5% of GDP, with Secretary General Mark Rutte expressing confidence in achieving this goal by the next NATO summit in The Hague. Currently, member nations commit to 2%, but many do not meet this threshold. The push is influenced by U.S. demand for higher budgets, with a focus on modernizing military capabilities. Notably, Spain is hesitant to increase its spending, expressing that the existing target suffices to address NATO challenges.
We are really close,' says NATO chief Rutte. 'There's broad support... total confidence that we will get there' by the next NATO summit.
This alliance, we believe, in a matter of weeks, will be committing to five percent... 3.5% in hard military and 1.5% in infrastructure.
Germany accepted the demand to raise defense budgets to 5% of GDP. It currently spends just under 2%.
Spain has been vocal in its reluctance to hike spending...we think that this 2% is enough to meet the challenges.
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