Giorgetti's announcement: Italy will immediately increase military spending to 2% of GDP

Economy and Finance Minister Giancarlo Giorgetti announced yesterday that Italy will reach NATO’s goal of spending 2% of GDP on defense this year through a series of accounting changes. “We are fully aware of the need to increase this spending in the coming years,” Giorgetti said, addressing lawmakers at a parliamentary hearing on Italy’s multi-year budget framework. The announcement came as Prime Minister Giorgia Meloni and U.S. President Donal…