The Netherlands Boosts Defence Budget Amid Rising Global Threats

The Netherlands announced a 10% increase in defence spending for next year, aiming to bolster its military capabilities amid rising security threats. The budget will rise by 2.4 billion euros, bringing the total to 24 billion euros. Funds will be allocated to new tanks, fighter jets, and cyber defense systems.

The Netherlands is set to increase defence spending by over 10% next year, adding new tanks, fighter jets, frigates, and air defence systems, according to the Dutch government.

In a statement on Thursday, Defence Minister Ruben Brekelmans cited Russia's aggression in Ukraine and other global threats, announcing a 2.4 billion euro boost to the defence budget, which will now stand at 24 billion euros annually.

Brekelmans emphasized that peace is no longer assured, highlighting ongoing cyber attacks and espionage threatening the nation's security infrastructure. This investment marks the first time Dutch defence spending will meet the NATO threshold of 2% GDP.

(With inputs from agencies.)