NATO: Jens Stoltenber: NATO intends to increase defense budget by $400 billion by 2024

NATO moves towards spending goal sought by Trump, Spain lags

BRUSSELS (Reuters) - More European allies in NATO are set to meet a defense spending target sought by the United States in 2019, with sharp rises in Romania and Bulgaria, NATO Secretary-General Jens Stoltenberg said on Friday, but Belgium and Spain will continue to lag.

NATO allies agreed a target to spend 2% of economic output by 2024 after Russia annexed Crimea in 2014. U.S. President Donald Trump has increased pressure on them, accusing Europe of taking U.S. protection for granted and warning of consequences.

Nine NATO countries will now meet or exceed the NATO target of spending 2% of national output on defense by the end of this year - the United States, Bulgaria, Britain, Greece, Romania, Poland, Latvia, Lithuania and Estonia.

Turkey and France are expected to be just below the goal, with only Belgium, Spain and Luxembourg still spending less than 1% of economic output on defense.

That compares to seven NATO countries on target in 2018.

The increases also mean that between 2016 and the end of 2024, Europe, Turkey, and Canada, are expected to increase defense spending by a cumulative $400 billion.





“The accumulated increase in defense spending by the end of 2024 will be 400 billion U.S. dollars. This is unprecedented progress,” Stoltenberg told a news conference before the NATO summit in London next Tuesday and Wednesday.

“President Trump is right about the importance of European allies and Canada spending more...But the European allies and Canada should not invest in defense to please President Trump,” Stoltenberg said, citing threats on NATO’s frontiers.

At a NATO summit in Wales in 2014, allies agreed to end years of defense cuts that left Europeans without vital capabilities, such as refueling airborne fighter bombers, although the 2% percent goal is not legally binding.

https://www.reuters.com/article/us-...goal-sought-by-trump-spain-lags-idUSKBN1Y31UD

By 2024 Military Spending

US $830$ billion
NATO $400 billion
Total $1.23 Trillion

Plus Japan, Australia and South Korea. Not bad at all.

 

NATO Secretary General announces increased defence spending by Allies

Ahead of the meeting of NATO Leaders in London to mark the Alliance’s 70th anniversary, Secretary General Jens Stoltenberg on Friday (29 November 2019) gave details of large increases in Allied defence spending. Mr. Stoltenberg announced that in 2019 defence spending across European Allies and Canada increased in real terms by 4.6 %, making this the fifth consecutive year of growth. He also revealed that by the end of 2020, those Allies will have invested $130 billion more since 2016. Based on the latest estimates, the accumulated increase in defence spending by the end of 2024 will be $400 billion. Mr. Stoltenberg said: “This is unprecedented progress and it is making NATO stronger.’

The Secretary General also confirmed that more Allies are meeting the guideline of spending 2 % of GDP on defence. This year, 9 Allies will meet the guideline, up from only 3 Allies just a few years ago. The majority of Allies have plans in place to reach 2 % by 2024. Mr Stoltenberg said: “Allies are also investing billions more in new capabilities and contributing to NATO deployments around the world. So we are on the right track but we cannot be complacent. We must keep up the momentum.”

NATO Heads of State and Government will meet in London on 3-4 December and the Secretary General said he expected they will take decisions to continue NATO’s adaptation, including more improvements to the readiness of Allied forces; recognising space as an operational domain; and updating NATO’s action plan against terrorism. Leaders are also due to have a strategic discussion on Russia, the future of arms control, as well as the rise of China.

The Secretary General highlighted how NATO continues to be the bedrock of peace and stability in the Euro-Atlantic area. He acknowledged that while there were sometimes disagreements among Allies, they have always been able to overcome their differences and unite round their core task; protecting and defending each other. Mr Stoltenberg said: “Our Alliance is active, agile and adapting for the future. Standing together, North America and Europe represent half the world’s economic and military might. In uncertain times, we need strong multinational institutions like NATO. So we must continue to strengthen them every day, to keep all our citizens safe. And that is what we are going to do when Leaders meet next week.”

https://www.nato.int/cps/en/natohq/news_171458.htm