NATO said Thursday that Canada’s military spending has finally hit the alliance’s target of 2 per cent of gross domestic product, a benchmark set by members years ago.

It’s a long-overdue accomplishment for Canada, which has long lagged a NATO alliance spending goal set by members in 2006 and then reaffirmed in 2014.

The federal government’s fiscal 2025-26 year spending represents the first time in roughly 35 years that Canada has devoted 2 per cent of its gross domestic product to defence. The last time Canada matched this rate of military spending was the end of the Cold War.

The North Atlantic Treaty Organization Thursday issued a report on military spending among 32 member countries. It noted Canada is spending more than $63-billion now on defence.