Source link Norway will boost its defense budget to 2.7% of GDP, its government announced on Friday Norway has announced a plan to almost double military expenditure over the next 12 years. Focusing on its navy and air defense, the plan will make Norway one of NATO’s largest spenders. The Norwegian government will pump a […]
Source link President Andrzej Duda has urged bloc members to invest at least 3% of their GDP in collective defense to counter Russia Polish President Andrzej Duda has sent a formal letter to the leaders of fellow NATO states, urging them to boost the minimum spending requirement for collective defense, the Rzeczpospolita news outlet reported […]
Source link Top diplomat has said that the bloc may have to become “more creative” about finding money for Kiev The EU would have to be “more creative” about providing additional funding to Ukraine if the US cuts support, the bloc’s foreign policy chief, Josep Borrell, said in an interview with the Spanish Sud Ouest […]
Source link Germany, Italy, Spain, and Belgium had the largest shortfalls last year, the newspaper has reported European members of NATO are €56 billion ($61 billion) short of meeting the US-led bloc’s defense spending target, research for the Financial Times by Germany’s Ifo Institute has revealed. Washington accounted for two-thirds of NATO’s $1.3 trillion total […]
Source link Investors are pushing for an EU-wide debt program that would bring them healthy profits while helping the bloc to increase military spending, Bloomberg has reported. Bond investors want the bloc’s temporary joint EU debt program that was launched mostly to finance the pandemic recovery fund to become permanent, the outlet has suggested. The […]
Source link NATO allies, most notably the US under Donald Trump, have repeatedly criticized Berlin for failing to pull its weight Germany could ramp up its defense spending to as high as 3.5% of GDP, Defense Minister Boris Pistorius has said. However, he did voice certain doubts regarding Berlin’s ability to keep military expenditure at […]
Source link War funding receives votes in Congress because politicians are paid off by the military-industrial complex, the analyst says The American public considers wars, and the Ukraine conflict in particular, a bad investment, award-winning US economist and public policy analyst Jeffrey Sachs has said. Since the start of Russia’s military operation in the neighboring […]
Source link The US government is spending more than $7 million a year to maintain a superyacht it seized from a sanctioned Russian businessman and that it is now seeking to sell, a court filing from Friday showed. The yacht, named ‘Amadea’, is believed to be owned by sanctioned Russian multibillionaire Suleiman Kerimov. It was […]
Source link Germany is set to make a large investment in four gas-fired plants, the government has announced Germany is set to spend €16 billion to construct four gas-fired power plants as it seeks to ensure an adequate supply of electricity after scrapping its nuclear reactors, the Economy Ministry announced earlier this week. This comes […]
Source link New Delhi has announced an interim budget for the next fiscal year ahead of a general election in May The Indian government on Thursday presented the country’s interim budget for the 2024-25 fiscal year starting in April, indicating a continuation of its key economic policies focused on transforming into a developed country by […]
Source link Israel is likely to boost its military spending by more than $8 billion next year as the war in Gaza continues, Bloomberg reported on Monday. According to a Finance Ministry document presented to parliament, Israel’s overall 2024 budget will amount to 562 billion shekels ($155 billion), compared to 513 billion shekels in a […]
Source link Online and offline Christmas sales in Germany have slowed amid rising economic uncertainty, the managing director of the German Retail Association (HDE), Stefan Genth, told Frankfurter Allgemeine this week. Soaring inflation and geopolitical conflicts, including tensions in Ukraine and the Middle East, have caused consumer sentiment in Germany to dip, Genth said. The […]
Source link The organization’s budgets for 2024 will be boosted by between 12% and 30%, it has announced NATO members have agreed to significantly increase the organization’s civil and military budgets for 2024. The extra operational funding has been touted as a sign of solitary within the US-led military bloc. The spending boost was approved […]
Source link Measures taken by the Italian government to stem rising food prices have proved ineffective in the fourth quarter, data published by the National Consumer Union (UNC) on Monday showed. The report revealed that in November, fresh fruit saw the sharpest price increase of 4.4% compared to the previous month, followed by olive oil, […]
Source link Despite the increase, the EU’s top diplomat warned that the bloc continues “to lag behind other players” in defense spending Military spending in the European Union increased by 6% to a record €240 billion ($261.4 billion) in 2022, according to figures published on Thursday by the European Defense Agency. Some 20 of the […]