Nato agrees to up defence spending

2014-09-05 21:56
(Saul Loeb, AFP)

(Saul Loeb, AFP)

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Newport - Nato leaders, jolted by Russia's military action in Ukraine, agreed in Wales on Friday to stop cutting military spending and aim to move towards the alliance's target of spending 2% of economic output on defence within a decade.

Members of the alliance that currently meet the 2% goal, such as the United States and Britain, will aim to continue to do so, the leaders said in a communique issued after their summit.

"Allies whose current proportion of GDP spent on defence is below this level will halt any decline in defence expenditure; aim to increase defence expenditure in real terms as GDP grows (and) aim to move towards the 2% guideline within a decade," the communique said.

The United States has been pressing allies to halt a sharp decline in military outlays since the 2008 financial crisis.

Read more on:    nato  |  wales

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