NATO's Defense Spending Under Scrutiny: Stoltenberg's Final Call

NATO Secretary-General Jens Stoltenberg, in his farewell speech, will emphasize that the current military spending target is insufficient for the alliance's defense. He highlights the need for increased funding to counter a more assertive Russia and to maintain security. Stoltenberg hands over leadership to Mark Rutte on October 1.

NATO's current military spending target will not be enough to protect the alliance as it braces for an increasingly assertive Russia, Secretary-General Jens Stoltenberg is expected to say in his farewell speech later on Thursday.

'We have to be willing to pay the price for peace. The more money, the stronger our defenses, the more effective our deterrence, the greater our security,' Stoltenberg will say according to prepared remarks.

'The good news is that we have delivered on the pledge we made ten years ago (to spend 2% of GDP on defense). But the bad news is that this is no longer enough to keep us safe.' Stoltenberg, a former prime minister of Norway who has led NATO since 2014, will hand over to Dutch former Prime Minister Mark Rutte on Oct 1.

(With inputs from agencies.)