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 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.
