Netherlands hikes defense spending to meet NATO goal

AMSTERDAM (Reuters) - The Netherlands will increase its defence spending by more than 10% in the coming years, investing in new tanks, fighter jets, frigates and air defence systems in a push to strengthen its forces after years of austerity, the Dutch government said.

Defence spending will be increased by 2.4 billion euros ($2.7 billion), taking the annual budget to around 24 billion euros, it said on Thursday.

The stimulus puts Dutch defence spending on course to meet the minimum level of 2% of gross domestic product (GDP) for the first time since NATO allies agreed on that threshold 10 years ago.

($1 = 0.9011 euros)



(Reporting by Bart Meijer; Editing by Hugh Lawson)