Global Markets
Home›Global Markets›Europe›Poland boosts defence spending to 4.8% of GDP
Poland boosts defence spending to 4.8% of GDP
Poland has more than doubled its defence outlays as a share of GDP since 2022, according to the Guardian.
Since Russia’s invasion of Ukraine in 2022, Poland has sharply increased defence spending, lifting it from 2.2% of GDP to 4.8% this year, the Guardian reports.
The article describes a transformation of a rural area near Warsaw, where missile launchers now serve facilities that have opened this month, replacing what was described as a cornfield just two years ago.
It attributes the surge to Europe’s response to Russian aggression and also references US disengagement, framing the defence boom as happening amid shifting security priorities in the region.
The report also includes comments from Jim Price, managing director of MBDA Polska, the local unit of the European multinational, saying suppliers have had to move faster to meet Polish defence needs.