Scholz said Germany would spend 2% of GDP on defence over the next decade
German Chancellor Olaf Scholz, speaking in the Bundestag, said that Germany is committed to NATO’s goal of allocating 2 percent of GDP for defence needs, TASS reports
Scholz recalled that at the moment Germany is spending funds on defence from a €100bn fund, which will ensure that the goal of 2 percent is reached already from the next 2024.
The German Chancellor noted, “At the latest, from 2028 we will need to directly allocate an additional €25bn, maybe even almost €30bn from the budget.”
He stated that he guarantees the German government a level of 2 percent of spending on the country’s defence in 2028, 2029, 2023 and all 30s.
NATO member states set the bar for defence spending at 2 percent of GDP in 2014; at that time, they believed that the goal would be achieved by 2024. But in many NATO countries, military spending is much lower than the established figure.
