US military spending will amount to nearly $785 billion, while European and Canadian spending will amount to over $307 billion.

The total defense spending of NATO states in 2020 will amount to $1,092.5 billion, which is almost $61 billion more than in 2019. This is evidenced by data in a statistical report on military spending by the alliance, released on Wednesday, October 21.

Of this money, US defense spending will amount to $784.95 billion, while European and Canadian states will spend $307.53 billion.

NATO Secretary-General Jens Stoltenberg said European alliance members and Canada have increased their defense spending by 4.3% this year.

“This is the sixth year of increased spending by the European allies and Canada, and we expect this trend to continue,” Stoltenberg said at a press conference ahead of the meeting of NATO defense ministers.

According to him, the allies will continue to increase investment in “manpower and resources, as well as participation in operations.”

Earlier it was reported that NATO countries will increase defense spending by $400 billion within five years. “This is unprecedented progress,” Stoltenberg said.

NATO also agreed on a new formula for calculating contributions to the general budget of the alliance, according to which the United States will reduce its share to 16%.