NATO raises the military budget for 2024

At a NATO meeting on December 13, Allies reached an agreement on the organization’s civil and military budgets for 2024, indicating respective increases of 18.2% and 12% compared to 2023.

As reported by TVP World, the NATO Deputy Secretary General, Mircea Geoană, emphasized the significance of expanding the utilization of NATO common funding to address shared security challenges more effectively. “Common funding demonstrates Allied solidarity and collective will. In turbulent times, we need this more than ever,” he stated.

The decision to invest more collectively in NATO was made by Allies at the Madrid Summit in 2022, responding to heightened global competition and threats to Euro-Atlantic security arising from Russia’s aggression against Ukraine.

At the Vilnius Summit in 2023, NATO leaders took additional measures to reinforce the organization’s deterrence and defense capabilities, committing to ensuring adequate resources for these decisions. They reiterated their enduring dedication to a robust transatlantic bond, unity, and cohesion during a crucial period for global peace and security.