European NATO members need to find an additional €56 billion for the Alliance’s defense spending target. writes about this Finance Times According to calculations by the German Institute for Economic Research (IFO).
“NATO member EU countries, including Italy, Spain and Belgium, which are at the bottom of the alliance’s defense spending targets, are experiencing financial difficulties,” the publication said.
The study stated that Germany previously had the largest defense deficit, but Berlin has already managed to reduce this deficit. In terms of financial difficulties, Spain (11 billion Euros) ranks second. Italy (10.8 billion Euros) and Belgium (4.6 billion Euros) complete the list. In 2023, the debt of each of these three countries exceeded 100 percent of GDP.
According to IFO economist Marcel Schlepper, the only realistic way for countries with high debt levels to reduce it is to reduce spending in other areas. He found the situation difficult, including protests by German farmers.
Previously in Turkey I thought about it On leaving NATO.