NATO member states' defense spending up by $260B over seven years

NATO's military budget in 2021 stood at $1.61B, which is 5% more than in 2020

"NATO's defense spending has increased by a total of $260 billion since 2014," NATO Secretary-General Jens Stoltenberg told the annual forum "NATO - Industry" in Italy, Qazet.az informs, citing RIA Novosti.

"The good news is that since we started increasing defense investment in 2014, all allies' defense spending has increased. Thus, the allies have increased defense spending for 7 years. Currently, financing of defense spending in 10 allied countries makes up 2% of their GDP. Most member countries of the alliance have announced their plans to achieve the same goal," he said.

NATO's military budget in 2021 stood at $1.61B, which is 5% more than in 2020.