NATO is on track to significantly increase its defense spending, with officials stating that two-thirds of its 31 member countries are expected to reach the defense spending target of 2% of GDP in 2024. This marks a substantial increase from last year, nearly doubling the number of countries meeting this goal. The announcement, expected to be made official on Wednesday, highlights that 18 of NATO's members will meet the 2% GDP expenditure on defense this year. Notably, Germany is anticipated to achieve the 2% defense spending target for the first time since the end of the Cold War, according to a spokesperson for Germany's Defense Ministry on 2024-02-14. This development comes as European NATO members collectively aim to spend more than 2% of GDP on defense for the first time. The increased spending is seen as a significant step forward, although there is recognition that more efforts are needed. The move follows comments by Trump encouraging Russia to attack NATO members that fail to meet their financial obligations to the alliance.
NATO defense spending hits record high The collective defense spending of NATO's European members will reach 2% of GDP for the first time in decades. 18 members are expected to hit the 2% standard this year. While there is much more to be done, this is important progress.… https://t.co/eJ8OAQ8wTC
Several NATO member states plan to meet the alliance's target of spending 2% of their GDP on defense. • This comes as Trump recently said he'd "encourage" Russia to attack NATO members that didn't meet financial obligations to the alliance. https://t.co/mmuK9Gt1SL
In 2024, European NATO members will jointly spend more than 2% of GDP on defense for the first time https://t.co/WXhmfmM9A4 https://t.co/C9rOGAGOJ5
⚡️Stoltenberg says 18 of 31 NATO members are expected to meet 2% defense spending goal. In a first since the end of the Cold War, Germany is expected to reach the 2% defense spending goal, a spokesperson for Germany's Defense Ministry said on Feb. 14. https://t.co/q8Q4jaRJ24
Nato is set to announce on Wednesday that 18 of its 31 members will meet the target of spending 2% of gross domestic product on defence this year https://t.co/cpDD8uIjp4 https://t.co/XqAWLlhB6L
Some two-thirds of #NATO’s 31 member countries are expected to reach the defense spending target of two percent of GDP in 2024, officials say, almost double last year’s number. https://t.co/a1PYJRxrOP