Much Ado About Something: 2% Defense Expenditures and What Really Matters
In 2014, NATO member states agreed to target defense expenditures of two percent of gross domestic product (GDP) by 2024. After this commitment, and following Russian aggression in Ukraine, NATO turned the corner on its declining defense expenditures. Facing a new challenge in a revisionist Russia, many allies to the east felt a new sense of urgency about funding their defense, aiming to build a credible deterrent against aggression on their own territory.