NATO Leaders to Sign Off on Massive Increase in Defence Spending

 THE HAGUE, June 25 (Bernama-dpa) -- NATO leaders on Wednesday are to formally approve a massive hike in defence spending aimed at financing the alliance's largest rearmament programme since the Cold War, as allies ready for the possibility of a Russian attack on NATO territory, German Press Agency (dpa) reported.

"This is a quantum leap that is ambitious, historic, and fundamental to securing our future," said NATO Secretary General Mark Rutte in The Hague, the site of this year's summit.

On the second and final day of the meeting in the Dutch city, NATO allies are expected to commit to spending five per cent of gross domestic product (GDP) on defence and related expenses by 2035, following persistent pressure from US President Donald Trump to increase their defence budgets.

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So far, NATO allies have been obliged to spend at least two per cent of their economic output on defence, a goal agreed to in 2014 and only set to be achieved by all member states this year.

Under the new pledge, at least 3.5 per cent of GDP must go to core military expenditure, with an additional 1.5 per cent earmarked for related expenses, including dual-use infrastructure for military purposes.

The additional funds are to provide for a huge expansion of deterrence and defence capacities in the coming years, as Russia's relentless assault on Ukraine highlights the need for stronger protection in the eyes of the trans-Atlantic alliance.

Details of the plans are classified, but Rutte said he expects NATO allies to increase air defence capabilities five-fold and acquire thousands more tanks and armoured vehicles, as well as millions of rounds of artillery ammunition.

-- BERNAMA-dpa