Thursday, September 20, 2018Canada's Leading Online Business Magazine

NATO Defence Spending at 1.23%

NATO summit 2018

(Photo courtesy: NATO)

CBJ — Prime Minister Justin Trudeau says Canada hasn’t committed to spending more money on defence, despite U.S. President Donald Trump saying that he has convinced NATO allies to do just that.

Trudeau says Canada will reach its mandate of 2% of GDP but is unwilling to double its defence budget.

New figures released by the military alliance indicates that Canada only hits 1.23% of it yearly GDP. The U.S. is at about 3.5%.

Trump created waves during a two-day NATO summit in Brussels, Belgium by insisting all members increase their military spending this year to 2% of their GDP — a standard established 16 years ago┬ábut rarely met by most of NATO, including Canada. Now Trump is proposing that countries commit 4%, which seems highly unlikely given that most aren’t even at the agreed upon 2% threshold.

@CanBizJournal

 

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