NATO allies agree to higher 5% defense spending target

NATO allies on Wednesday agreed to more than double their defense spending target from 2% of gross domestic product to 5% by 2035, in the alliance's most decisive move in over a decade

NATO allies on Wednesday agreed to more than double their defense spending target from 2% of gross domestic product to 5% by 2035, in the alliance's most decisive move in over a decade.

In a joint declaration, the Western military bloc said it was “united in the face of profound security threats and challenges,” in particular the long-term threat posed by Russia to Euro-Atlantic security and the “persistent threat” of terrorism.

“Allies commit to invest 5% of GDP annually" on core defense requirements as well as defense and security-related spending by 2035, it said.

The 5% figure is made up of “at least” 3.5% of GDP that should be spent on “pure” defense, with the remainder going to security and defense-related “critical infrastructure” to ensure "our civil preparedness and resilience, unleash innovation, and strengthen our defence industrial base," it said.

Allies will be required to submit annual plans “showing a credible, incremental path to reach this goal,” NATO said, following pushback from some member states, particularly Spain.