European budget deficit exceeding 50 billion to reach NATO defense standards
The European Union faces an annual budget deficit of over 50 billion euros to meet the defense standards set by the North Atlantic Treaty Organization (NATO).
According to the Financial Times, Germany will top the list of European countries in 2023, according to the findings of the latest research conducted by the Leinitz Economic Research Institute of Germany's University of Munich. We are faced with a 14 billion euro deficit problem in providing the defense budget determined by NATO. According to the research results of the Institute of Economic Research at the University of Munich, Germany, many countries of the European Union, including Belgium, Spain and Italy, which have the highest debt and budget deficit among European countries, have the biggest problems and problems in the allocation of the defense budget. They are experiencing the problem and are also faced with the opinion of NATO. Among the European countries with the largest deficit in allocation are Spain with a deficit of 11 billion euros, Italy with a deficit of 10 billion and 800 million euros, and Belgium with a deficit of 4 billion and 600 million euros, respectively.
