Latest news with #DefenceSpendingPledge
The Star
9 hours ago
- Business
- The Star
Turkey backs NATO's 5% defence spending goal, plans nationwide air shield, source says
ANKARA (Reuters) -Turkey supports NATO's decision to more than double its defence spending target to 5% of GDP by 2035 and is already exceeding the previous 2% benchmark, a Turkish defence ministry source said on Thursday. NATO allies on Wednesday agreed to raise their collective spending goal to 5% of gross domestic product over the next decade, citing the long-term threat posed by Russia and the need to strengthen civil and military resilience. 'Turkey is above the 2% target criterion under the Defence Spending Pledge,' the source said. 'As NATO's second-largest army, Turkey is among the top five contributors to the alliance's operations and missions.' The source said Turkey had fulfilled all its NATO capability targets and was continuing to invest in defence industry development and research. It plans to expand a layered air defence network across the country, centred around its national "Steel Dome" project. 'We are investing in air defence systems, hypersonic, ballistic and cruise missile capabilities, unmanned land, sea and air systems, as well as next-generation aircraft carriers, frigates, and tanks,' the source said. The new NATO target includes at least 3.5% of GDP for core defence spending, with the remainder to be spent on security-related infrastructure to improve civil preparedness and resilience. (Reporting by Tuvan Gumrukcu; Writing by Ece Toksabay; Editing by Daren Butler and Alison Williams)
Straits Times
9 hours ago
- Business
- Straits Times
Turkey backs NATO's 5% defence spending goal, plans nationwide air shield, source says
ANKARA - Turkey supports NATO's decision to more than double its defence spending target to 5% of GDP by 2035 and is already exceeding the previous 2% benchmark, a Turkish defence ministry source said on Thursday. NATO allies on Wednesday agreed to raise their collective spending goal to 5% of gross domestic product over the next decade, citing the long-term threat posed by Russia and the need to strengthen civil and military resilience. 'Turkey is above the 2% target criterion under the Defence Spending Pledge,' the source said. 'As NATO's second-largest army, Turkey is among the top five contributors to the alliance's operations and missions.' The source said Turkey had fulfilled all its NATO capability targets and was continuing to invest in defence industry development and research. It plans to expand a layered air defence network across the country, centred around its national "Steel Dome" project. 'We are investing in air defence systems, hypersonic, ballistic and cruise missile capabilities, unmanned land, sea and air systems, as well as next-generation aircraft carriers, frigates, and tanks,' the source said. The new NATO target includes at least 3.5% of GDP for core defence spending, with the remainder to be spent on security-related infrastructure to improve civil preparedness and resilience. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
