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Navigating Financial Turmoil: Strategies for Defense Spending by NATO Alliance States in the 21st Century

Authors :
Adrian Iura
Source :
Ovidius University Annals: Economic Sciences Series, Vol XXIV, Iss 1, Pp 622-628 (2024)
Publication Year :
2024
Publisher :
Ovidius University Press, 2024.

Abstract

In the 21st century, defense financing is a significant challenge in the context of evolving security threats and budgetary constraints. In the context of modern warfare, nations have certain commitments to allocate as much financial and substantial resources as possible to maintain robust defense capabilities. In the first part, I will highlight the conflicts that have succeeded in convincing individual states, both the NATO alliance and globally, to invest some of their financial resources in defense. In the second part, I will briefly outline the ways in which a state can fund its defense budget even though there are economic constraints, technology tends to evolve, but also the geopolitical sphere is constantly changing. In the third part, I will highlight the principle on which the Euro-Atlantic alliance should be based, the principle of the "3E", and I will represent the spending that has taken place within the NATO alliance.

Details

Language :
English
ISSN :
23933127
Volume :
XXIV
Issue :
1
Database :
Directory of Open Access Journals
Journal :
Ovidius University Annals: Economic Sciences Series
Publication Type :
Academic Journal
Accession number :
edsdoj.70af671545d4532b15a5d91c25f6a11
Document Type :
article