Germany is planning to meet NATO’s new defense spending targets by the end of the decade, laying out a plan that would nearly double its defense expenditure by 2030.
According to a new spending proposal approved by Germany’s Bundestag this week, the nation plans to spend $761 billion (649 billion euros) on defense over the next five years. The spending plan will go a long way in helping Germany meet NATO’s new standards, which require member nations to spend at least 3.5% of their GDP on defense and 1.5% on defense-related expenditures.
The spending plan would see Germany double its yearly defense expenditure. This year, Germany spent $101 billion (86 billion euros) on defense, or approximately 2.4% of its GDP. By the end of the decade, Germany’s annual defense expenditure will exceed $190 billion (162 billion euros).
Germany’s plan to greatly expand its defense spending comes as European leaders deal with mounting Russian aggression in Ukraine and a possibly apathetic U.S. The new spending plan allocates $10.6 billion (9 billion euros) annually for Ukraine’s defense.
In addition to the $10.6 billion, Germany has also signed a joint production agreement with Ukraine this year and has lifted its ban on the delivery of long-range missiles. However, Germany has stopped short of agreeing to provide Kyiv with its advanced, long-range Taurus missiles.
German Chancellor Friedrich Merz has made Europe’s defense a priority in his administration, with the goal of making the Bundeswehr the largest conventional military in Europe. Mr. Merz said that the new spending proposal is a reaction to Russian aggression in Ukraine.
“Russia is actively and aggressively threatening the security and the freedom of the common trans-Atlantic space. We must fear that Russia wants to continue its war beyond Ukraine,” Mr. Merz said. “We must together be so strong that no one dares to attack us. In this situation, Germany must take responsibility.”
