Canada, under pressure to spend more on its military, vowed on Monday to boost funding for the armed forces and hit NATO's 2% military spending target this fiscal year, five years earlier than promised.

Carney emphasized that Monday's announcement means Canada will hit the NATO spending target "half a decade ahead of schedule," as he had promised to meet the threshold by 2030 during the election campaign.

The federal government pledged Monday to aggressively crank up Canada's defence spending to hit the country's commitment to the North Atlantic Treaty Organization before the end of year — a