US EditionGermany to raise defense spending to 3.5% of GDP in 2029
- On Tuesday, Germany's recently formed federal administration endorsed the draft budget for 2025 along with spending guidelines through 2029, featuring increased allocations for defense.
- This decision follows decades of limited defense budgets and responds to geopolitical tensions and NATO commitments for greater military readiness.
- The plan includes a $21.4 billion ammunition overhaul through 2037, with $5.04 billion allocated for munitions in 2025 to ensure steady supply and sector growth.
- Finance Minister Lars Klingbeil plans 143.1 billion euros in new loans for 2025, rising to 185 billion by 2029, while annual defense spending will grow from 95 to 162 billion euros.
- This robust increase positions Germany to meet NATO's 3.5% of GDP defense target by 2029, supporting European security despite domestic debate over costs and priorities.
61 Articles
61 Articles
The demands of an increase in military spending within NATO, with the president of the United States demanding to raise it to 5% of GDP, and the plans in this area of big economies like the German one - the coalition government led by the Christian Democrat Friedrich Merz intends to raise it to 3.5% in four years - are giving wings to the defence sector on the stock market. Only this year, the European giants have even tripled their market value…
After the EUR 100 billion announced in 2022, Germany confirms huge increases in defence budgets. Because the needs of the Bundeswehr are enormous. ...
Germany will increase its defence spending to 3.5% of gross domestic product (GDP) in just four years, which will also mean a significant increase in debt, according to the budget plans presented on Tuesday by Finance Minister Lars Klingbeil.
Coverage Details
Bias Distribution
- 40% of the sources lean Left
To view factuality data please Upgrade to Premium
