Friday, December 6, 2024

NATO fears the budgetary consequences of the Covid-19 crisis

In just a few weeks, the Covid19 coronavirus health crisis in China has turned into a health, economic and social crisis worldwide, with Europe at its epicenter. European countries, led by Italy, but also Spain, France, Germany, the Netherlands and Belgium, continue to see an increase in the number of cases of infection and the number of deaths, to the point of saturate the sanitary capacities, and because of the total or partial containment measures, also see their economy at a standstill, while all of them have to face very high and exceptional expenses to minimize the underlying social crisis.

It is in this context that Jens Stoltenberg, Secretary General of the Atlantic Alliance, presented its annual report on NATO, by vision-conference, coronavirus obliges. If the year 2019 showed almost full growth in defense spending in the alliance countries, and that now 9 countries have reached the 2% of GDP threshold as required since the Cardiff summit in 2014, it is above all the consequences of the coronavirus, not on military capacities, but on the budgets of the armies, which concentrated the concerns of the political leader of the Alliance.

Cardiff 2014 NATO Germany | Military Alliances | Defense Analysis
At the Cardiff summit in 2014, NATO members agreed to increase their defense spending to 2% of their GDP by 2025

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