Against the backdrop of former US President Donald Trump’s recent threats against the United States’ rogue NATO allies, Germany has now reported planned defense spending of two percent of GDP for the first time in three decades. According to research by the German Press Agency, the federal government has submitted an amount for the current year that, when converted to comparative figures from the defense alliance, corresponds to an amount of 73.41 billion dollars (approximately 68.5 billion euros).
According to the current NATO forecast, this record amount means a GDP ratio of 2.01 percent. According to documents from the NATO archives, Germany last spent two percent of its gross domestic product (GDP) in 1992. During the Cold War, this percentage was usually more than three percent.
20 percent more defense expenditure than in the previous year
According to NATO circles, the new figures correspond to an increase in defense spending of more than 20 percent compared to the previous year. The last public report on defense spending by the alliance states only gave a comparative figure of $56.64 billion and a GDP ratio of 1.57 percent for Germany in 2023.
NATO’s current defense spending target requires alliance members to permanently invest at least two percent of their gross domestic product annually in defense. This was decided last summer, despite threats from Russia. The target to date only stipulated that all alliance states would approach the benchmark of spending at least two percent of their GDP on defense by 2024.
What does the extra money buy?
According to the Ministry of Defense, the money will be used to finance new infantry fighting vehicles, frigates, submarines and state-of-the-art F-35A multi-role fighter aircraft, among other things.
A few days ago, Trump caused a stir by declaring that in a second term he would not defend NATO states against Russia for not paying their share. In Europe, this has sparked a debate about nuclear armament, among other things. Of the 31 alliance members, 11 are expected to meet the two percent of GDP target for defense spending this year.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
