[HIGHLIGHTS] NATO sees unprecedented increase in defense spending

NATO sees unprecedented increase in defense spending. In 2024, allies in Europe will invest a combined $380 billion in defense.

This corresponds to two percent of the projected collective gross domestic product of the countries. In absolute terms, this is a record for Germany and, according to the current NATO forecast, would mean a GDP ratio of 2.01 percent. The development of defense spending by the NATO states will be discussed this Thursday at a meeting of defense ministers at the alliance headquarters in Brussels.