PRAGUE (Pakistan Point News / Sputnik - 12th July, 2022) Slovakia's defense expenditures under favorable circumstances could reach 2% of GDP required by NATO as early as this year, Slovak Defense Minister Jaroslav Nad said on Monday.
"I can confirm that the initial draft of the defense budget for 2023 is already geared toward 2% of GDP. I am not as confident yet, but it is possible that we will reach 2% of GDP already this year in the event of favorable dynamics in the republic's budget," Nad told a briefing.
Furthermore, the minister intends in the nearest future to appeal to his cabinet colleagues and lawmakers to raise the defense budget in the light of the military action taking place in Ukraine, which has drastically shifted the security situation in Slovakia and the entire region, he said.
"As well as other nations on NATO's eastern flank, we must take adequate steps in response to the events in Ukraine. At the same time, we must remember that all other NATO countries on the eastern border of the alliance have already met that 2% of GDP allocation for their military needs. In 2023, these figures will be as follows, Poland - 3% (of GDP), Lithuania, Latvia, Estonia and Romania - 2.5% each, Bulgaria, Hungary and, I assume, Slovakia - 2-2.1% each," Nad added.
In 2014, NATO members set a target to increase defense spending up to 2% of GDP by 2024. Back then, only three NATO allies allocated 2% of their GDP or more on defense, but in 2021 this number increased to eight. Furthermore, last year appeared to be the seventh consecutive year of rising defense spending among European allies and Canada, accounting for 3.1% in real terms compared to 2020.
