Albania to Spend 2% of GDP on Defence in 2024

Albania, for the first time, has planned that in the 2024 draft budget, the value of 2% of the Gross Domestic Product will be available for defence, within the framework of its commitments in the North Atlantic Alliance (NATO). 

This was announced this Friday by the Minister of Economy and Finance of Albania, Ervin Mete, in a statement to the media. 

"The required level related to NATO membership commitments is respected, with 2% of GDP in 2024, and this is achieved for the first time", said Mete. 

The year 2024 was a target set by Albania and it seems that the economic conditions have already matured to increase the defense budget. 

According to data from NATO's official website in 2021, only 9 of the 30 member countries had fulfilled the condition of spending 2 percent of the Gross Domestic Product on defence, while the rest was still in the promise phase.