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NATO budget

NATO budget

NATO budget

During the 2014 Wales Summit, NATO members pledged to halt the decline in defence budgets, aiming for a 2% expenditure of their gross domestic product (GDP) on their respective defence budgets by 2024, as well as a target to spend 20% of that amount on procurement and programme-specific research and development. For the first time in many years, 2015 saw a small increase in NATO defence expenditure. For the future, the alliance decided to focus not only on overall defence expenditure, but also on the efficiency of this spending.
In 2015, only the United States, Greece, Poland, the United Kingdom and Estonia (in that order) surpassed the 2% guideline for defence expenditure as a percentage of GDP; whilst Luxembourg, Poland, the United States, Turkey, France, the United Kingdom, Norway, and Lithuania met the target to spend 20% or more of defence expenditure on equipment.

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