Brussels [Belgium], June 23: NATO allies have reached agreement on a new target for defence spending days before a major summit in The Hague, with leaders to pledge raising annual defence-related expenditure to at least 5% of gross domestic product (GDP), DPA learnt on Sunday.
The Western defence alliance's members have been under pressure to significantly raise defence spending from US President Donald Trump, who complains that Canada and the European partners have been piggy-backing on the massive US defence budget.
Meanwhile the threat of a potential Russian attack on NATO territory has also caused allies to reconsider their defence capabilities.
As per the current target, NATO members are to spend at least 2% of GDP on defence annually, a goal that is finally set to be reached by all 32 allies for the first time this year, according to NATO Secretary General Mark Rutte.
Allies were scrambling to come to an agreement ahead of next week's leaders summit in The Hague on Tuesday and Wednesday, amid last minute opposition voiced by Spain, one of the NATO members lagging behind the most when it comes to defence spending.
According to the agreement, at least 3.5% of national GDP is to be spent on conventional defence, DPA learnt following the conclusion of a written decision procedure.
An additional 1.5% can be allocated for related expenditure, including for combating terrorism and for infrastructure that can be used for military purposes - such as investments in railway lines and the expansion of ports. NATO allies are set to agree to meet the new defence spending target by 2035 in a planned final declaration at the NATO summit, diplomats told DPA. (DPA)
Source: Qatar Tribune
