Europe $56bn behind on NATO spending target – FT ...News

Germany, Italy, Spain, and Belgium had the largest shortfalls last year, the newspaper has reported European members of NATO are €56 billion ($61 billion) short of meeting the US-led bloc’s defense spending target, research for the Financial Times by Germany’s Ifo Institute has revealed. Washington accounted for two-thirds of NATO’s $1.3 trillion total spending in 2023, more than double the $393 billion jointly contributed by EU countries and the UK and Norway, the paper reported on Saturday. According to the research, Germany, Italy, Spain, and Belgium were the furthest from meeting the bloc’s goal of investing 2

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