🪖 NATO allies agree to higher 5% defense spending target❗

🔑 Key Points

🆙 The NATO alliance agreed to increase defense spending from 2% to 5% of gross domestic product, by 2035❗

👥 Allies will be required to submit annual plans “showing a credible, incremental path to reach this goal.”

✍️ The alliance on Wednesday also reaffirmed its “ironclad commitment to collective defence” as enshrined in Article 5.