Coronavirus fallout means defence sector will have to fight harder for investment

摘要

How a looming period of recession initiated by the coronavirus crisis will impact European defence budgets remains to be seen, but it is highly likely that a recent upward spending trend will be slowed - if not halted altogether. After facing years of criticism from the USA, more European NATO members had been making strides over the past couple of years towards a target of spending at least 2% of their GDP on defence. But with economies now derailed after coronavirus disruption and business lockdowns, achieving such a metric could mean a real-term reduction in investment. Speaking at a Brussels Forum event on 23 June, NATO secretary general Jens Stoltenberg stressed the need for nations to continue raising spending, despite the impact of the pandemic.