1009 GMT - NATO countries need to ramp up their spending on defence in order to counter the threat of Russia, the alliance's secretary general Mark Rutte says at the World Economic Forum in Davos, Switzerland. Despite not being currently at a stage of "hard war," countries must to get into the war mindset as the defense industry lags Russia in terms of ammunition output, he notes. Spending commitments are needed now to ensure NATO countries are safe in five years time, Rutte says, adding that investment needs to be above 2% of GDP with a focus on innovation and large, efficient contracts. (michael.susin@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 05:09 ET (10:09 GMT)
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