Scholz blasts extreme German defense spending hike suggestion
(MENAFN) German Chancellor Olaf Scholz has strongly criticized a proposal from Economy Minister Robert Habeck to significantly increase the country's defense spending to 3.5% of its GDP, nearly doubling the current budget. Habeck, who is also the Green Party's candidate in the upcoming snap elections, argued that the increase was necessary to counter Russia's threat, insisting it was essential to secure peace and prevent further war. He suggested that nearly €140 billion ($144.83 billion) should be allocated for defense, up from just under €80 billion ($82.76 billion), exceeding NATO's 2% spending target.
Scholz rejected the idea as poorly thought out and vague, questioning the lack of specifics on how the funds would be spent or where the money would come from. He expressed concern about the burden it would place on German citizens. Germany’s planned defense spending for the coming year stands at €90.6 billion ($93.3 billion), just above the NATO threshold, aided by a €100 billion special fund established in 2022. The country has been one of the largest contributors of military aid to Ukraine, spending around €11 billion ($11.38 billion) on assistance since January 2022.
MENAFN09012025000045015687ID1109072650
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.