Germany’s Defense Spending: Doubling Amidst Concerns Over Waste and War
Germany’s government approved a defense spending proposal that will more than double military expenditures by 2029, allocating €649 billion over five years. This significant increase, a response to Russia’s invasion of Ukraine, aims to meet NATO’s 3.5% of GDP spending target, with €162 billion planned for 2029. The plan includes €9 billion annually for Ukraine, supported by a €400 billion borrowing initiative, facilitated by loosened debt rules. While facing internal debate and criticism regarding spending allocation and percentage-based targets, the government maintains the investment is critical to defend the Euro-Atlantic area and strengthen the Bundeswehr.
John Q. Hosedrinker