Breaking Down $1.3 Trillion NATO Defense Budget in 2024
NATO has a bigger budget in 2024 and the U.S. is the largest spender in the alliance. The 32-member North Atlantic Treaty Organization received an allocated defense budget of $1.3 trillion in December 2023. The U.S. alone funds 68% of NATO ’s budget in 2024 while the rest 32% is funded by the remaining 31 countries. The U.S. has increased the budget spending by 6% while other member nations have contributed less than 1% extra. Also Read: China Sidelines NATO : Declares to Stop $1 Billion Russia-Ukraine War However, European countries increased the spending on the defense budget after Russia invaded Ukraine in 2022. They are now stepping up spending to safeguard their interests in the region. Despite being unequal in spending, NATO is the biggest defense alliance in 2024 with a massive $1.3 trillion budget. Also Read: Petrodollar Died This Month, Not the US Dollar NATO -s-1-3-trillion-defense-budget-for-2024">A Breakdown of NATO ’s $1.3 Trillion Defense Budget for 2024 Sour...