Cypriot president pledges 2% of GDP on defense spending

Cyprus' new president Nikos Christodoulides arrives at the Presidential palace for an official ceremony, in Nicosia, last month. [AP]

Cyprus will earmark 2% of gross domestic product to defense spending in line with other European Union member states as a means to strengthen the east Mediterranean island nation's foreign policy bargaining power, the new Cypriot president said Friday.

Nikos Christodoulides told reporters after a visit to a special forces training camp that he aims to put Cyprus among other countries like Greece and France, "at the core" of a recent EU push to bolster the bloc's deterrent capabilities and defense infrastructure.

"I also served as foreign minister and I know that without a strong deterrent force, without a strong defense, your say in foreign policy matters is clearly limited," Christodoulides said.

According to official figures, Cyprus' GDP in 2022 was estimated at 27 billion euros. A 2% of GDP target would mark a slight increase in current expenditure on...

Continue reading on: