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IFO: Europe lacks €56 billion for NATO defense

Countries Europewho are members of the North Atlantic Alliance (NATO), must find an additional 56 billion euros to reach the target defense spending index. The Financial Times reports this with reference to a study by the German Institute for Economic Research (IFO).

“Countries European UnionNATO members that are furthest behind the alliance’s defense spending targets, including Italy, Spain and Belgium, are experiencing financial difficulties,” the material states.

It is argued that previously the largest defense spending deficit was observed in Germany, however, Berlin has now managed to significantly reduce this gap. The second one is coming Spainthen – Italy and Belgium.

Earlier, Boris Pistorius, the head of the German Defense Ministry, warned members of the German government about a shortfall of six billion euros for the Bundeswehr in 2025. Read more about this in material Public News Service.

Message IFO: Europe lacks €56 billion for NATO defense appeared first on Public news service.

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