Belgium is the latest NATO member to increase its defense spending, Prime Minister Alexander de Croo confirmed on Thursday, APA reports citing Teletrader.
The country aims to increase its defense budget by €1 billion by the end of the current legislature in 2024.
NATO members have come under increased pressure to commit 2% of their GDP to defense spending, as agreed in 2006. Belgium intends to pledge 1.54% of its GDP by 2024, according to Defense Minister Ludivine Dedonder. The funds will be used to increase ammunition and fuel stocks, as well as invest in protective equipment and cybersecurity.
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