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Originally published by Capital Businessbusiness
June 10, 2025
4mo ago
Canada pledges to meet Nato’s 2% defence spending target within a year
JUNE 10 - Canada will significantly boost its defence spending to hit a Nato target of 2% of GDP years earlier than planned, Prime Minister Mark Carney Kenya breaking news | Kenya news today |..
✨ Key Highlights
Canada will enhance its defence spending to meet Nato's target of 2% of GDP by March 2024, according to Prime Minister Mark Carney.
- Current defence spending is 1.4% of GDP, with a planned increase of C$9.3bn ($6.5bn).
- Carney emphasized Canada’s need to diversify its defence partnerships and reduce reliance on the United States.
- The new defence strategy will include a focus on modernizing equipment and establishing a new defence procurement agency.
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Tokyo stocks rise on U.S.-China trade hopes; Canada pledges to meet NATO's 2% defense spending target.
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