Germany will not be able to increase its basic defense budget to 2% of GDP by 2028, as required by the North Atlantic Alliance. The newspaper writes about this Wall Street Journal (WSJ) citing analysts.
Germany’s basic defense budget currently stands at around 1.3 percent of GDP, the newspaper writes, while total military spending only reaches the 2 percent threshold with the help of investments from an extrabudgetary investment fund.
The newspaper’s source claims that German funding will run out by 2028. The analyst argues that Berlin urgently needs to increase its base defense budget to ensure that total defense spending remains at this level. According to experts, this should be done by almost 60 percent of the current value, but Berlin is unlikely to achieve this goal.
Former German Economy Minister Robert Habeck accepted The country’s inadequate economic development. According to him, the stagnation is more persistent than research institutions expected.
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