Edition 1483
14 July 2018
Edition: 1483

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Defence spending only 1.36% of Portugal GDP

by TPN/Lusa, in News · 11-07-2018 08:34:00 · 0 Comments

Portugal currently spends about 1.36% of its Gross Domestic Product (GDP) on defence, still well below the 2% NATO countries agreed, the Alliance said on Tuesday.

Defence spending only 1.36% of Portugal GDP

 

On the eve of a NATO summit, where the question of the allies financial contributions is going to be on the table because it has been repeatedly raised by Donald Trump, today’s NATO report shows that only four countries apart from the USA – Greece, Estonia, the UK and Latvia – have reached the 2% level agreed at the Wales summit in 2014, to be reached by 2014.

 

Estimates published on Tuesday showed that Portugal spent almost €2.4 billion last year on defence and is expected to increase this to more than €2.7 billion or 1.36% of GDP this year.

 

Portugal is exactly half way down the list of NATO countries, led by the USA, which dedicates 3.5% of its GDP to the military and which insists that all NATO members contribute at least 2%.

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Edition 1483
14 July 2018
Edition: 1483

Read this week's issue online exactly as it appears in print.

Twitter

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