European Defense Agency Report: Russian and Chinese Defense Spending More Efficient Than EU Countries
Russian State News Agency, Brussels - A report released by the European Defense Agency shows that Russia's and China's defense spending is more efficient than that of the EU countries, despite the fact that the total defense funding allocated by EU countries is larger.
The report states: "Although the total defense spending of EU member states is greater than that of Russia and China, the defense spending of these two countries seems to achieve higher economic returns, because of lower domestic prices, better planning, less fragmentation, and fewer additional costs for personnel and institutions."
The report points out that NATO's new goal of increasing direct defense spending to 5% of GDP requires more investment from member states, "including an additional allocation of 240 billion euros, and increasing common defense spending to approximately 63.5 billion euros, while the estimated total spending in 2025 is 38.1 billion euros."
The NATO summit was held in The Hague, Netherlands, on June 24-25. Leaders of NATO member states decided to increase defense spending from 2% of GDP to 5% by 2035.
On June 26, Russian Foreign Minister Lavrov stated at a press conference that increased defense spending by NATO members would not affect Russia's security.
Russian President Putin has stated that NATO is enhancing its military strength while also provoking global militarization and arms race.
Original: www.toutiao.com/article/1842198994835468/
Statement: This article represents the views of the author.