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6/30, 2:11 PM (Source: TeleTrader)
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UK's defense budget to reach 2.5% of GDP by 2030

British Prime Minister Boris Johnson said on Thursday that the United Kingdom's defense spending will increase to 2.5% of GDP by the end of the decade. "We need to invest for the long term in vital capabilities... while simultaneously adapting to a more dangerous and more competitive world," he said at a NATO summit press conference.

"Unless we get the right result in Ukraine, Putin will be in a position to commit further acts of aggression against other parts of the former Soviet Union, more or less with impunity. That will drive further global uncertainty, further oil shocks, further panics and more economic distress for the whole world," Johnson argued.

Baha Breaking News (BBN) / DJ