The EU and NATO member states are likely to increase their defense spending above the current level of 2% of GDP.
This was stated by the President of the European Council Antonio Costa in an interview with the Portuguese broadcaster RTP, according to UNN.
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Costa emphasized that Europe has been gradually trying to increase defense spending for more than a decade, and this process is ongoing. He mentioned that 23 EU countries that are members of NATO have already reached the level of 2% of GDP for defense, and since 2022, spending has increased by 30%.
In 2014, the Allies decided to increase defense investments to 2 percent of their gross domestic product
The average military expenditure of the 23 EU states, which are also NATO allies, has already reached two percent. And especially since 2022, we have had a very significant increase overall: a 30 percent increase in defense investment... I believe there is a consensus among members to continue on this path
The idea that “at the next NATO meeting in June, a target above 2 percent will be set” seems to remain.
In this case, the added value that the EU can offer to its member states is different: “helping to rationalize investments,” identifying “frameworks for joint opportunities,” increasing “cost efficiency” through joint procurement, standardizing equipment and eliminating its inoperability.
Recall
Lithuania, Estonia, Latvia, and Poland call on the EU to increase military spending to 3% of GDP. The countries propose to use joint borrowings and allocate 50 billion euros for the production of artillery.