Fitch Ratings: Most European countries are likely to gradually increase their defense spending.

The latest report from Fitch Ratings indicates that the scale of foreign defense spending by European governments will depend on each country's perception of threats as well as their financial capacity. Due to geopolitical changes triggered by the new USA government, European governments are under pressure to increase defense spending, and NATO is likely to raise its defense spending target from 2% of GDP to 3% to 4%. The report states that many European governments have less confidence in the USA and are reassessing the demand for defense spending. Fitch indicates that most European countries are likely to increase their defense spending, but this increase will be gradual. From 2024 to 2028, the median percentage of defense spending as a proportion of GDP will only increase by 0.5 percentage points.