Germany needs to increase its defense spending due to the unstable situation in the world, Wolfgang Schäuble, the head of German Ministry of Finance, told newspaper Bild am Sonntag.
“In coming years, we should increase our defense spending due to crisis and instability in the world,” Schäuble said.
According to the head of Finance Ministry, the increase will take place next year. He then added that it will take some time before the German defense industry could re-adjust.
Schäuble also said that Germany needs to hike internal security budget as well, and provide more assistance to developing countries.
