NATO Expects a Tenfold Increase in Defense Spending by 2024 Compared to 2018.
By 2024, NATO expects defense spending in the alliance (excluding the US) to increase nearly tenfold over 2018 spending. This is shown by the data provided by NATO today.
While the Allies (excluding the United States) spent $ 43 billion last year on defense, after five years, the cost is expected to reach $ 400 billion. The latest figures for 2019 indicate a 4.6% year-over-year increase in military spending.
Secretary-General of the Pact Jens Stoltenberg said today that NATO remains the place where Europe and North America talk daily. According to him, there are sometimes differences in the alliance, but the strength of the organization is that it always overcomes them and manages to provide mutual protection.
Stoltenberg announced that the leaders of the Pact countries will discuss issues with Russia, China, Afghanistan and the security of telecommunications networks at their meeting in London next week. We do not see a direct threat from Russia to any NATO country, but Moscow is putting forces into new combat capabilities, including nuclear ones, while terminating the treaty for the removal of small and medium-range missiles, the Secretary General noted. In his words, the alliance must be able to respond to threats from any direction.
We're increasing military spending, not to the liking of US President Donald Trump, but because of the changing security situation. The view that the US is moving away from NATO is wrong, Stoltenberg said.
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