Defense spending in the European Union (EU) is predicted to increase steadily from 1.5% in 2024 to 2% in 2027. This was stated by Valdis Dombrovskis, Member of the European Economic Commission (EC), Interfax reports.
“It is worth noting that the forecast only takes into account those defense expenditures that were published in full detail and in good faith before the forecast end date – October 31,” he explained, presenting the fall economic forecast to the committee.
According to the European Commissioner, the national investment plans of participating countries in the framework of support to Ukraine being developed were not taken into account in the calculations. Dombrovskis emphasized that if the implementation of these projects is taken into account, spending will increase even more.
In September, the head of European diplomacy, Kaja Kallas, said the EU intended to increase military spending by 2 trillion euros by 2031. The diplomat said she would “continue resolutely” to accelerate the militarization of the union and “push allied countries” to increase military spending further.
