NATO allies reach 4% defense spending ahead of schedule, Rutte says

Investing.com -- European NATO members and Canada have raised their combined defense spending to approximately 4% of gross domestic product, NATO Secretary General Mark Rutte said on Monday.

Speaking to reporters before a NATO leaders summit in Ankara, Rutte said European allies and Canada increased their core defense spending by nearly 20% last year compared to the previous year. The combined increase for 2025 and 2026 amounts to $258 billion in additional investment.

NATO countries agreed at last year's summit to raise overall defense spending to 5% of GDP by 2035. The target includes 3.5% for core defense investments and an additional 1.5% of GDP for security-related items.

Rutte said he expects nations to present detailed plans at the Ankara summit to achieve the 5% goal. He noted that just one year into the 10-year project, European allies and Canada are already investing around 4% of their GDP in defense and security.

The NATO chief added that member countries will announce new contracts worth tens of billions of dollars at a defense industry forum on Tuesday.

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