Germany is expected to increase its defense spending by a third next year. According to the budget project, 109.7 billion euros will be allocated to the military sector in 2027. The initiative was proposed ahead of the NATO summit in Ankara, scheduled for Tuesday and Wednesday.
At the meeting, the allies will assess the progress made regarding the commitment undertaken last year to allocate 3.5% of GDP for defense, plus an additional 1.5% for security infrastructure, until the year 2035.
The proposed budget for Defense would put Berlin on a trajectory that would allow it to reach the objective set by the alliance by 2029, six years ahead of the deadline agreed within NATO, writes Antena3.
“You can’t defend against Putin by simply sticking to a balanced budget,” said German Finance Minister Lars Klingbeil in an interview for ARD on Sunday.
Germany is making efforts to restructure its defense sector, allocating over 500 billion euros for investments in this field in the coming years.
In addition to the sum of 109.7 billion euros from the basic budget, the last 30 billion euros from the special fund dedicated to the armed forces will also be made available.
The project predicts a further increase of the sum to 153.9 billion euros in 2028, 162.9 billion euros in 2029, and 183.7 billion euros in 2030.