Germany to increase defense spending to 3.5% of GDP by 2029 — foreign minister

TASS

BERLIN, September 10. /TASS/. German Foreign Minister Johann Wadephul stated that Germany will invest 124.7 billion euros in defense this year as it looks to increase this figure to 3.5% of GDP by 2029.

"This year, Germany is investing 124.7 billion euros in real defense capabilities, which is expected to amount to about 2.7% of our GDP. By 2029, this figure is expected to reach at least 3.5%, which will likely exceed 150 billion euros," Wadephul said in Berlin at a conference of the heads of German diplomatic missions abroad.

He emphasized that investments in defense infrastructure should be added to this figure. "We are already at the 1.5% level here. These figures reflect our political priorities, which are dictated by the changed security situation. We are leading the way and expect our NATO partners to follow our example," the German foreign minister stated. At the same time, he acknowledged that NATO is currently "undergoing a political stress test."

On Thursday, the German Foreign Ministry is hosting a conference of the heads of German diplomatic missions abroad. NATO Secretary General Mark Rutte is participating in the event.

Fonte: TASS