Belgium May Miss NATO 2035 Defense-Spending Target, Deputy Prime Minister Says

Belgium may struggle to meet NATO’s target of raising defense spending to 5% of GDP by 2035, Belgium’s deputy prime minister and foreign minister, Prevot, said. According to Jin10, Prevot said it would be difficult to close the gap created by years of underinvestment in defense. Speaking during a NATO summit interview, he said that given pressure on the national budget, reaching the 5% goal was not realistic for Belgian authorities. Prevot said Belgium would continue to be a reliable partner within the NATO alliance and would increase defense spending while responding to global threats, especially those from Russia. Belgium has the largest budget deficit among euro zone countries, and both S&P and Moody’s downgraded its credit rating this year. A five-party coalition government is in difficult budget negotiations, aiming to reach an agreement before July 21. The latest budget estimate released on Monday showed the government would need to save 7.7 billion euros each year through 2029 to comply with the European Union’s 3% deficit cap requirement.