European Commission president calls for EU to ramp up defence spending to 3% of GDP

European Commission President Ursula von der Leyen has called for EU member states to significantly boost their defence spending to three per cent of their GDP.

She made these remarks during a plenary session of the European Parliament in Strasbourg, Caliber.Az reports via Russian media.

Von der Leyen emphasised that EU member states could mobilise up to 650 billion euros ($709 billion) over the next four years by adding an additional 1.5 per cent of their GDP to their defence budgets. 

Additionally, she proposed that member states have the option to access loans of up to 150 billion euros ($163 billion) to invest in key defence areas, ranging from air defence to drones, as well as in strategic assets and cyberspace. 

She added that these were just some examples, emphasising the importance of covering a broad spectrum of defence technologies.

Von der Leyen further highlighted the need for these loans to finance purchases specifically from European manufacturers in order to stimulate the EU’s own defence industry. 

She underscored the importance of long-term contracts, providing the industry with the necessary predictability to ensure sustained growth. 

Von der Leyen emphasised that contracts should be long-term to provide the sector with the necessary predictability and stressed the need for EU nations to focus on joint procurement, urging them to collaborate on defence investments.

As von der Leyen pointed out, the logic behind the plan she presented last week to ramp up defence efforts is simple. 

She explained that they wanted to use every financial lever available to strengthen and accelerate their defence production and noted that with the REARM Europe plan, they could mobilize up to 800 billion euros ($873 billion).  

“This is the moment for peace through strength. This is the moment for a common defence. This is Europe’s moment,” she said.

She added that this is especially crucial due to the situation in Ukraine. 

Von der Leyen stated that there was an urgent need to address gaps in Ukraine's military supply and to provide reliable security guarantees. She emphasised that this moment of truth was not just about Ukraine, but about the entire security of Europe and the continent as a whole.

By Naila Huseynova