Daily Management Review

Defense spending in EU countries grows to €300 billion


09/02/2024


European Commission President Ursula von der Leyen emphasized the importance of a stronger European defense backbone, alongside NATO as the focal point for Europe's collective defense.



Arno Mikkor
Arno Mikkor
“As Europeans, it is necessary for us to possess the tools to protect ourselves and discourage potential enemies. We have already achieved remarkable advances,” the chief of the EC stated at the GLOBSEC Forum in Prague. She added that Member States have raised their defense budgets from around 200 billion euros to nearly 300 billion euros this year.

She mentioned that Europe's defense sector has also adapted to a new situation. “We have initiated the production lines again.” Von der Leyen reported that they have made new orders and are streamlining processes to increase production.

“However, this is insufficient. Even if Europeans are committed to addressing current security threats, it will require significant time and financial resources to overhaul our defense sector,” she added.

The chairperson of the EC thinks that Central Europe is in a strong position to play a key role and gain significant advantages from the new developments in the European defense industry.

source: ec.europa.eu