Dutch Hike Defense Spending to €27 Billion After NATO Pledge

The Netherlands will boost its defense budget next year to €27 billion ($32 billion), as the country works toward meeting NATO’s new goal of spending 5% of gross domestic product on security by 2035.

“More will be needed to keep Europe safe in the future,” caretaker Finance Minister Eelco Heinen told parliament Tuesday in The Hague. “Clear agreements were made on this at the NATO summit in The Hague, and one of the major choices facing us is how we are going to pay for it.”