Canada's Liberal government will pour extra billions into its armed forces and hit NATO's 2% military spending target this fiscal year, five years earlier than promised, Prime Minister Mark Carney said on Monday.

Canadian Prime Minister Mark Carney says that Canada will meet NATO's military spending guideline by early next year.

Prime Minister Mark Carney is set to announce a large increase in defense spending which would allow Canada to meet NATO’s target this fiscal year, according to The Globe and Mail.