Newest NATO member Finland to spend 2.3% of GDP on defence

FILE PHOTO: A Finnish soldier operates a towed 155 mm field gun during Northern Forest land force exercise in Rovajarvi, Finland May 30, 2023. REUTERS/Janis Laizans/File Photo

HELSINKI (Reuters) - NATO's newest member Finland plans to spend 2.3% of its gross domestic product (GDP) on defence next year, its defence ministry said on Monday.

In July, NATO's 31 member-nations agreed to spend a minimum of 2% of their GDP on defence. Previously the 2% target had been a goal to aim for over time and only seven allies met the target in 2022, according to NATO.