(Ottawa) Prime Minister Mark Carney argues that Canadians will not have to tighten their belt immediately to reach the new NATO target for defense expenses. The 32 member countries agreed on Wednesday to increase the annual target by 2 % to 5 % of the gross domestic product (GDP) by 2035.
“We can no longer count on our geography to protect ourselves,” he said at a press conference from The Hague, in the Netherlands, where the summit of the Organization of the North Atlantic Treaty (NATO) took place.
The government already intended to reach the target of 2 % set by NATO this year. Carney had announced a immediate increase in military spending a few weeks ago of $ 9.3 billion in 2025-2026, passing the total defense envelope to 62.7 billion.
The joint declaration of the 32 NATO member countries, including the United States, specifies that on the 5 % increase in GDP, 3.5 % will have to be devoted to military spending. The remaining 1.5 % will be intended for the defense of critical infrastructure, networks and the strengthening of the industrial database.
Prime Minister Carney said Canada has already started working to reach the target 3.5 % of GDP by 2035 and that of 1.5 % to protect its critical infrastructure. It provides that the increase in military spending stimulates the economy.
If he doesn’t expect Canadians to tighten their belts right away, the Prime Minister admitted that they may have compromising in the end of the decade. NATO provides for a revision of its plan in 2029.
With Joël-Denis Bellavance, The press
