(Makes clear Canada will meet target this fiscal year, not has already met it)
TORONTO (Reuters) -Canada’s Liberal government will pour extra billions into its armed forces and hit NATO’s 2% military spending target this fiscal year, much earlier than scheduled, Prime Minister Mark Carney said on Monday.
Canada has been under heavy pressure from the United States and other NATO allies for years to increase funding for its military. Canada currently spends about 1.4% of GDP on defense.
“Now is the time to act with urgency, force, and determination,” Carney said in a speech in Toronto. The previous Liberal governent had promised to hit the NATO target by 2032.
Canada will boost pay for the armed forces and buy new submarines, aircraft, ships, armed vehicles and artillery, as well as new radar, drones and sensors to monitor the sea floor and the Arctic, Carney said.
(Reporting by Wa Lone, writing by David Ljunggren, editing by Promit Mukherjee)
((Reuters Ottawa editorial; david.ljunggren@tr.com))
Keywords: CANADA POLITICS/DEFENSE
(Reporting by David Ljunggren)
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