NATO agrees to increase its military budget by 12% by 2024

O NATO This Wednesday it agreed on its military budget for 2024, which will be 12% higher than this year, and the civilian budget, which will increase by 18.2%, according to the Alliance itself.

In this way, the military budget will be placed next year in 2,030 million euros, while the civilian will arrive at the 438.1 million.

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The allies gave the green light to the accounts at a meeting of the North Atlantic CouncilNATO’s highest decision-making body, where its member states meet.

The Alliance’s civilian budget provides funding for personnel, operational costs and program expenses of NATO headquarters and its international staff, the Alliance said in a statement.

Military accounts cover the operational costs of the headquarters, missions, and operations of the transatlantic organization’s command structure around the world.

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The third main element of the Alliance jointly funded by allies is the NATO Security Investment Programme, which encompasses “significant investments in construction and command and control systems”, according to the organization.

The budget ceiling for that program for 2024 is 1.3 billion euros, which represents an increase of 30% compared to 2023.

NATO Deputy Secretary General Mircea Geoana highlighted that increasing and expanding the use of common funding in the organization allows allies to “more effectively address shared security challenges,” according to the Alliance.

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“Common financing demonstrates allied solidarity and collective will. In turbulent times, we need this more than ever”, said the Romanian politician.

Source: Elcomercio

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