European NATO allies to invest $380B in defense in 2024, says alliance chief

By Nur Asena Erturk

ANKARA (AA) – European NATO allies will invest a total of $380 billion in 2024, Secretary-General Jens Stoltenberg announced Wednesday.

Stoltenberg said he expects 18 allies to spend 2% of the GDP on defense this year.

"That is another record number and a six-fold increase from 2014 when only three allies met the target. In 2024, NATO allies in Europe will invest a combined total of 380 billion US dollars in defense. For the first time, this amounts to 2% of the combined GDP," NATO chief told a news conference ahead of the defense ministers' meeting.

He added that the ministers will also discuss increasing production, and recalled that Germany started building a new ammunition factory that would produce 200,000 artillery shells per year.

"We can never take peace for granted," Stoltenberg said, and added that there is "no imminent military threat against any NATO ally."

"NATO will continue to ensure that there is no room for miscalculation in Moscow about our readiness and resolve to protect all allies," he stressed.

Stoltenberg also commented on the war in Ukraine, and the Western countries' support, hailing the EU's recent decision "on a major new package of aid."

The secretary-general also hailed the Ukraine Armed Forces' victories in the Black Sea region, for pushing away the Russian fleet and being able to export grains without a deal with Moscow.