Canada must double its annual military spending to meet NATO requirements, according to new projections from the Parliamentary Budget Officer (PBO).

After facing months of pressure from his allies, the Prime Minister announced at the NATO summit that Canada would meet its commitment of 2 per cent of its GDP by 2032.

The PBO estimates that this would require spending at least $81.9 billion annually on military infrastructure and personnel.

According to figures from the Ministry of National Defense, military spending is expected to reach $41 billion for 2024-2025. The government’s defense policy, Our North Strong and Free (ONSAF), released in the spring, projects spending to reach $57.8 billion by 2029-30, equivalent to 1.76 percent of GDP .

More details to come.