Portugal allocates 1.35% of GDP to Defence

By TPN/Lusa, in News · 17-03-2019 07:29:00 · 0 Comments
Portugal allocates 1.35% of GDP to Defence

Portugal last year allocated 1.35% of gross domestic product (GDP) to Defence expenses, still far from the 2% goal until 2024 agreed among NATO members, according to the annual report published by the organisation.

The updated data published in Brussels, which is still only estimates, showed that in proportional terms (regarding Portugal’s wealth, measured by the GDP) the country spent more on defence than 12 other allies, among the 29 members of the Transatlantic organisation.

Portugal is in 16th place on the list – headed by the US (3.39%) – ahead of Germany (1.23%), Spain, Belgium (both with 0.93%) and Luxembourg (0.54%), which are the last three places.

According to NATO estimates, in gross terms, last year Portugal spent €2.72 billion, compared to €2.39 billion in 2017 (representing 1.24% of GDP).

Portugal’s prime minister, António Costa, said that Portugal committed to having 1.66% of GDP for defence expenses, but noted that the investment could reach 1.98% if the country is able to obtain the community funds to which it is to apply under the next Multiannual Financial Framework of the European Union for 2021-2027.


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