NATO Increases Military Budget to $2.1B for 2023

NATO allies on Wednesday agreed to increase the alliance’s civil and military budgets for 2023, reflecting higher ambitions for the new security reality.

“The civil budget is set at €370.8 million ($394 million), and the military budget is set at €1.96 billion ($2.1 billion), representing a 27.8% and 25.8% increase, respectively, over 2022,” a NATO statement said, Anadolu Agency reported.

Welcoming the move, NATO Secretary General Jens Stoltenberg said that the budget increase is a “concrete expression of the higher level of ambition” to achieve the goal set by the NATO allies at Madrid Summit in June.