Summary
NATO members have agreed to increase defense spending to 5% of GDP by 2035, aiming to enhance their collective security. Some countries, like Spain, have expressed concerns about meeting this new target, while others like the UK have committed to increasing their defense budget sooner.
Key Facts
- NATO plans to raise defense spending to 5% of GDP by 2035.
- The commitment was agreed upon at a NATO summit in The Hague.
- There will be a review of the spending target in 2029.
- Spain has stated it cannot meet the 5% target and will stick to 2%.
- The US President has supported higher defense spending for NATO.
- The UK plans to spend 4.1% on defense by 2027.
- Some NATO countries, like Belgium and Slovakia, have concerns about the new target.
- The new spending includes core defense and broader security expenses, such as cyber defense and infrastructure.
