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Belgium scrambles to reach Nato defence spending goal

Summary by Financial Times
Budget minister says country will meet this year’s target but an increase will take its toll on welfare system

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Belgium faces a significant challenge in trying to meet the US-driven NATO military spending target of 2% of GDP. Budget Minister Vincent Van Peteghem announced that the country will increase debt and cut social assistance to achieve this goal. To maintain the required percentage level, the government plans to increase debt and could privatize state assets. The remaining deficit would be covered by spending cuts, including the reduction of unemp…

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Financial Times broke the news in London, United Kingdom on Wednesday, April 16, 2025.
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