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NATO Boosts Military Budget by 12% Amid Escalating Security Challenges

NATO said on Wednesday that its military budget for 2024 will be increased by 12% to 2.03 billion euros, while its civil budget would be increased by 18.2% to 438.1 million euros.

NATO stated in a statement announcing the rise that increasing and extending the use of NATO common financing helps partners to handle shared security problems more effectively.

NATO’s civil budget finances people, operational costs, and program expenditures for NATO’s headquarters and international staff, whilst the military budget funds NATO Command Structure headquarters, missions, and activities across the world.

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Source: HT

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