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Mark carney undertakes invest 5%:
Just committed to reaching 2 % of the gross domestic product in military spending. Meanwhile, Prime Minister Mark Carney has now just promised to increase to 5 % by 2035 – a target that would involve an annual cost of $ 150 billion for Canada. Nevertheless, The Prime Minister made the official announcement on Wednesday morning from the Hague, where the NATO summit was held.
“The new NATO objective. Moreover, set at 5 % of GDP, is suitable to respond to current threats and challenges, as well as the capacity to face it,” he said at a press conference.
The new alliance target is divided into two components: 3.5 % of GDP will be dedicated to basic military capacities, especially for the Canadian armed forces, while an additional 1.5 % will finance infrastructure such as new airports, ports and telecommunications networks.
In an mark carney undertakes invest 5% interview with CNN on Tuesday evening. Furthermore, the Prime Minister said that the 5 % target could cost the federal treasure up to $ 150 billion per year.
In their final statement at the end of the two -day summit. all 32 member countries of the Atlantic Alliance undertook to devote 5 % of their gross domestic product (GDP) annual to their safety by 2035. The progress made within the framework of this commitment will be reassessed in 2029.
The previous target. set at 2 %, had been established by the members of the Atlantic Alliance in 2006 and reaffirmed in 2014, after the annexation of Crimea by Russia. Ottawa has just announced that it will reach this threshold by the end of the year by investing more. than $ 9 billion in defense.
The 5% commitment of Canada occurs a few days after the signing of a security. defense partnership between mark carney undertakes invest 5% Canada and the European Union. The agreement in particular strengthens the cooperation in defense. opens the door to the participation of Canada in the European supply program “Rearm Europe”.
“This will allow us to achieve our goals faster,” Carney told Hague.
More details will follow.
Mark carney undertakes invest 5%
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