https://sputnikglobe.com/20241225/money-for-nothing-but-guns-not-free-nato-military-spending-soars-in-2024-1121268705.html
Money for Nothing, But Guns Not Free: NATO Military Spending Soars in 2024
Money for Nothing, But Guns Not Free: NATO Military Spending Soars in 2024
Sputnik International
The explosion of hostilities in Ukraine in 2022 has so far been a godsend to Western generals and military-industrial tycoons as NATO bosses rushed to ramp up their military spending.
2024-12-25T13:21+0000
2024-12-25T13:21+0000
2024-12-25T13:21+0000
military
military & intelligence
nato
poland
germany
us
military spending
france
united kingdom (uk)
https://cdn1.img.sputnikglobe.com/img/07e7/07/0c/1111825601_0:159:3077:1889_1920x0_80_0_0_29743d08bc354389bf008b5d6a209636.jpg
This year, 23 of the bloc's 32 members have met NATO's guideline of allocating 2% of their gross national product to defense. Some member states have exceeded this benchmark, with Poland leading the way by dedicating approximately 4.12% of its GDP—or $34.9 billion—to military endeavors.For comparison, the United States spent 3.38% of its GDP on defense in 2024, while the United Kingdom’s military spending this year was estimated at about 2.33% of its GDP.In terms of the total amount of money spent on defense, however, the US still reigns as NATO’s undisputed champion, having spent about $967.7 billion this year.Germany, the NATO country with the second-largest military outlays this year, spent only $97.6 billion, while the UK and France spent $82.1 billion and $64.2 billion, respectively.Overall, NATO members this year have upped their defense spending, with their average expenditure in 2024 reaching 2.71% of GDP compared with 2.53% in 2023.US President-elect Donald Trump, however, seeks to push these limits even further as he wants NATO countries to fork out as much as 5% of their GDP on defense, the Financial Times reported last week.Though it remains to be seen whether Trump’s demands will be met by other members of the bloc, NATO Secretary General Mark Rutte last month appeared to agree with him, arguing that 2% defense spending is apparently not enough.
https://sputnikglobe.com/20241223/paying-premium-for-simplicity-us-spends-1058-billion-on-low-tech-155mm-shells-for-ukraine-1121242427.html
poland
germany
france
united kingdom (uk)
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2024
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
News
en_EN
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik International
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
nato military spending, us defense spending, uk defense spending, nato gdp spending
nato military spending, us defense spending, uk defense spending, nato gdp spending
Money for Nothing, But Guns Not Free: NATO Military Spending Soars in 2024
The explosion of hostilities in Ukraine in 2022 has so far been a godsend to Western generals and military-industrial tycoons as NATO bosses rushed to ramp up their military spending.
This year, 23 of the bloc's 32 members have met NATO's guideline of allocating 2% of their gross national product to defense. Some member states have exceeded this benchmark, with Poland leading the way by dedicating approximately 4.12% of its GDP—or $34.9 billion—to military endeavors.
For comparison, the United States spent 3.38% of its GDP on defense in 2024, while the United Kingdom’s military spending this year was estimated at about 2.33% of its GDP.
In terms of the total amount of money spent on defense, however, the US still reigns as NATO’s undisputed champion, having spent about $967.7 billion this year.
Germany, the NATO country with the second-largest military outlays this year, spent only $97.6 billion, while the UK and France spent $82.1 billion and $64.2 billion, respectively.
Overall, NATO members this year have upped their defense spending, with their average expenditure in 2024 reaching 2.71% of GDP compared with 2.53% in 2023.
US President-elect Donald Trump, however, seeks to push these limits even further as he wants NATO countries to fork out as much as 5% of their GDP on defense, the Financial Times reported last week.
Though it remains to be seen whether Trump’s demands will be met by other members of the bloc, NATO Secretary General Mark Rutte last month appeared to agree with him, arguing that 2% defense spending is apparently not enough.
