Donald Trump’s victory in the US presidential election has reflected the impact that a new US administration could have on European economies and has reopened the question. Participation in NATO By countries that adhere to the treaty but without honoring their obligations, such as Italy. The newly-elected White House chief has long raised the issue of insufficient allied arms spending, and on several occasions has called on governments to meet the 2 percent of GDP quota. A limit that Economy Minister Giancarlo Giorgetti described as ambitious, in light of what is expected in the budget currently being passed.
Costs for NATO
The issue of the contribution of some European countries to NATO in relation to GDP returned to the center of relations between the United States and the old continent the day after Tycoon’s victory.
During a campaign conference at the beginning of the year, Donald Trump did not hesitate to state that he would not hesitate to “encourage” Russia to “do whatever it wants” against NATO countries that violate the agreement. do not honor their economic commitments under .
Jens Stoltenberg, the former secretary of the Atlantic Alliance, presented Joe Biden with a list of 23 allies that managed to reach 2 percent of their GDP in the 2024 estimate, even if slightly above it, such as Germany. Like 2,12 with. % and France with 2.06%.
However, several countries still remained below the minimum level, in descending order: Croatia, Portugal, Italy, Canada, Belgium, Luxembourg, Slovenia and Spain. Donald Trump speculated on the request for 30 years of arrears from bankrupt countries: according to the estimates of the German Ifo Institute, we will talk, for example, of 230 billion euros owed by Germany. 120 billion from Italy and 80 billion from Spain.
Mark Rutte, the new NATO secretary, also returned to the issue, hoping to raise the bar. 2.5% “When he was president, he was the one in NATO who encouraged us to go over 2% – declared the former Dutch prime minister – and now, thanks to him and NATO, if you look at the United States’ numbers for a moment. Remove the 2% we are in, I think it is thanks to him, his success, and We must do more. We know that today.”
Rutte explained that a discussion at the next alliance summit will be necessary to decide whether potential new spending targets will be “a general goal” or “differentiated by country” based on commitments made to regional defense. Percentage” is to be established.
The subject was addressed by the Italian Minister of Economy, Giancarlo Giorgetti, who stated that the requests of the United States did not fall into the government’s programs: “Despite the large amount allocated, the 2% of GDP requested by NATO The purpose is Very ambitious and is not entirely compatible with the current framework of European governance in particular from a coverage point of view,” he said at a hearing of the Chamber and Senate Budget Commission.
“In fact, in the light of the allocations predicted by the budget bill, we will reach 1.57% in 2025, 1.58% in 2026 and 1.61% in 2027” explained the head of the MEF.
Estimates of GDP
Addressing various issues at the heart of the 2025 budget debate before the commissions, Giorgetti announced that Italian gross domestic product should return to expansion at the end of the year, with “still encouraging” short-term prospects. thanks to
“I wouldn’t be surprised by a review. An increase in preliminary estimates of GDP 2024,” the economy minister explained, adding that “internal forecast models suggest that, in the last quarter of the year, GDP should return to expansion, thanks to the recovery in net foreign demand and the continuation of the recovery in consumption. “.
