Italy's Strategic Defense Spending Dilemma: Navigating NATO Targets
Italy's Foreign Minister Antonio Tajani states that Italy will need at least a decade to meet NATO's new defense spending targets. Current spending lags behind, but Italy plans to meet the 2% GDP target by 2025 through accounting adjustments. The challenge remains balancing public investments with defense needs.
Italy's Foreign Minister Antonio Tajani announced on Thursday that Italy requires at least ten years to escalate its defense spending to meet new NATO targets. The announcement comes as NATO allies are poised to agree on these benchmarks in the forthcoming summit.
Currently trailing in defense expenditure, Italy spent 1.49% of its GDP last year compared to the 2% target, per NATO data. Although Italy aims to reach this target by 2025, it plans to do so mainly by adjusting accounting methods.
Defence Minister Guido Crosetto added that Italy cannot meet the U.S. call for allies to increase defense spending to 5% of GDP, due to Italy's existing public debt challenges, which prioritize other investments such as healthcare and social spending.
(With inputs from agencies.)
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