https://sputnikglobe.com/20240705/german-defense-budget-to-reach-86bln-by-2028-to-meet-nato-target-1119255428.html
German Defense Budget to Reach $86Bln by 2028 to Meet NATO Target
German Defense Budget to Reach $86Bln by 2028 to Meet NATO Target
Sputnik International
Germany will reach NATO's 2% defense spending target by 2028, growing its annual military budget to 80 billion euros ($86.6 billion) from the current 52 billion, Chancellor Olaf Scholz said.
2024-07-05T20:09+0000
2024-07-05T20:09+0000
2024-07-05T20:09+0000
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"This is about a strong defense, strong armed forces that provide protection from the aggressive rulers of our time. That is why we will fully meet the NATO target of 2% every year. From 2028, meaning after the special fund will be fully spent, the regular defense budget will be 80 billion euros to ensure that the 2% target will continue to be met," Scholz told a news briefing. The special fund was set up at Scholz's initiative following the start of the Russian military operation in Ukraine. The one-off initiative unlocked 100 billion euros worth of investments for the national defense forces.The country's draft budget for 2025 is expected to reach 481 billion euros, including 57 billion euros worth of investments, Finance Minister Christian Lindner said after the three-way governing coalition announced a provisional budget deal.
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nato budget target, nato 2% defense spending target, german military budget, how much does germany spend on military
nato budget target, nato 2% defense spending target, german military budget, how much does germany spend on military
German Defense Budget to Reach $86Bln by 2028 to Meet NATO Target
MOSCOW (Sputnik) - Germany will reach NATO's 2% defense spending target by 2028, growing its annual military budget to 80 billion euros ($86.6 billion) from the current 52 billion, Chancellor Olaf Scholz said on Friday.
"This is about a strong defense, strong armed forces that provide protection from the aggressive rulers of our time. That is why we will fully meet the NATO target of 2% every year. From 2028, meaning after the special fund will be fully spent, the regular defense budget will be 80 billion euros to ensure that the 2% target will continue to be met," Scholz told a news briefing.
The special fund was set up at
Scholz's initiative following the start of the Russian military operation in Ukraine. The one-off initiative unlocked 100 billion euros worth of investments for the national defense forces.
The country's draft budget for 2025 is expected to reach 481 billion euros, including 57 billion euros worth of investments, Finance Minister Christian Lindner said after the three-way governing coalition announced a provisional budget deal.
