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| Special Albanian soldiers in a NATO exercise in Albania, (March, 2019) |
Albania has, for the first time, planned to allocate 2% of its Gross Domestic Product (GDP) in its 2024 budget to the defense sector, in accordance with its commitments to the North Atlantic Treaty Organization (NATO).
This announcement was made by Albania's Minister of Economy and Finance, Ervin Mete, in a statement to the media on Friday.
"The required level of commitment related to NATO membership, with 2% of GDP in 2024, is being met for the first time," said Mete.
The year 2024 was an objective set by Albania, and it appears that the economic conditions have matured to increase the budget allocation for defense.
According to data from NATO's official website in 2021, only 9 out of 30 member countries had met the condition of spending 2% of Gross Domestic Product on defense, while the rest were still in the promise phase.
Albania's decision to allocate 2% of its GDP to defense underscores the country's commitment to its NATO obligations. This increase in defense spending is not only significant for Albania but also aligns with NATO's overall goals and objectives.
NATO's 2% of GDP guideline for defense spending is a key metric for member countries, reflecting their commitment to the alliance's collective defense and security goals. While some NATO members have already met this target, others are working towards it to enhance their defense capabilities.
Albania's dedication to reaching this 2% milestone by 2024 signifies its commitment to contributing to the alliance's collective security and strengthening its defense capabilities. This decision is not only important for national security but also demonstrates Albania's active participation in the NATO alliance, working collectively to ensure peace and security in the region.
As Albania continues to enhance its defense capabilities and meets its NATO commitments, it aligns itself more closely with its European and North Atlantic partners. This decision represents an important step forward in fulfilling its role within the alliance while securing its own sovereignty and regional stability.