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    MarketForces Africa » Foreign » NATO Chief Calls for Boost in Military Budgets
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    NATO Chief Calls for Boost in Military Budgets

    Olu AnisereBy Olu AnisereJune 2, 2025No Comments2 Mins Read
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    NATO Chief Calls for Boost in Military Budgets
    Mark Rutte, NATO Secretary General
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    NATO Chief Calls for Boost in Military Budgets

    NATO Secretary General Mark Rutte has called for significantly higher defence spending in view of the geopolitical confrontation with Russia. “We have to stand ready so it will be considerably more than the 2 per cent we were used to,” Rutte said during a visit to Lithuania.

    He said that the alliance’s current annual defence-related spending target of 2 per cent of economic output is no longer adequate to address today’s security challenges.

    The host, Lithuanian President Gitanas Nausėda, also called on the allies to invest significantly more money in the military. “Russia will not wait,” Nausėda said. Rutte took part in a one-day meeting of the so-called Bucharest Nine Group (B9) and the Nordic countries in Vilnius.

    The summit, which was also attended by Ukrainian President Volodymyr Zelensky, served to prepare for the NATO summit in around three weeks’ time in The Hague.

    The B9 includes Poland, Romania, Bulgaria, Hungary, the Czech Republic, Slovakia and the three Baltic states of Estonia, Latvia and Lithuania. The Nordic states are Finland, Sweden, Norway, Denmark and Iceland.

    Nausėda warned that Russia is trying to consolidate and rebuild its armed forces as quickly as possible. “We have very limited time to do the same,” he said. “I hope we will be able to reach the agreement regarding the 5 per cent of GDP target.”

    There is no need to talk about very long timetables or additional deadlines of 2035 or 2040, he added. U.S. President Donald Trump is demanding that the alliance partners spend 5 per cent of their economic output on defence.

    Rutte recently proposed a compromise formula of increasing defence-related spending to 3.5 per cent and spending an additional 1.5 per cent on infrastructure. He assumes that the NATO states would agree to this. #NATO Chief Calls for Boost in Military Budgets#

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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