Belgium to inject another billion euros into its army - L'Echo

Belgium to inject another billion euros into its army - L'Echo
Reuters
Rate Story
Share
Font Size
Save
Comment
Synopsis

The Belgian government agreed a few hours before a NATO summit to inject an extra billion euros in its defence forces, on top of 10 billion euros ($10.98 billion) already agreed, according to Belgian newspaper l'Echo, a move prompted by the war in Ukraine.

AP
The Future is Europe is painted on the side of a building ahead of a NATO and EU Summit in Brussels, Belgium, Wednesday, March 23, 2022.
The Belgian government agreed a few hours before a NATO summit to inject an extra billion euros in its defence forces, on top of 10 billion euros ($10.98 billion) already agreed, according to Belgian newspaper l'Echo, a move prompted by the war in Ukraine.

The new investments aim at reinforcing the Belgian defence by 2030, including developing a cybersecurity unit in the Belgian army, replenishing stocks of fuel and munitions, military equipment and supplies and improving intelligence and communication systems, the paper said.

NATO member states are supposed to contribute more than 2% of their GDP (Gross Domestic Product) annually. Belgium is currently spending 1.2% and this will increase to 1.54% with the latest investments.

The Belgian army is looking to recruit 2,500 soldiers in 2022, to reinforce the ranks of its military, currently standing at around 25,000 people.

Read More News on

(Catch all the Business News, Breaking News Events and Latest News Updates on The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business News.

...more

ETPrime stories of the day

6 mins read
8 mins read
9 mins read