German Defence Minister Pushes for Major Budget Increase Amidst Growing Global Tensions
German Defence Minister Boris Pistorius aims to increase the country's annual defence budget to over 60 billion euros starting in 2025, up from 52 billion euros. The hike is part of efforts to strengthen Germany's military capabilities amidst pressure from the U.S. and a more aggressive Russia.
Amidst rising geopolitical tensions, German Defence Minister Boris Pistorius is advocating for a significant increase in the nation's defence budget, aiming to surpass 60 billion euros from 2025 onwards, sources told Reuters. The current budget stands at 52 billion euros, augmented by a special fund in response to global threats.
The proposed budget hike underscores Germany's shift towards prioritizing defence, with the special fund expected to be fully utilized by 2028. Despite ambitions to maintain elevated spending, challenges remain. A key issue is the defence industry's struggle to swiftly meet increased production demands.
Senior government sources acknowledge the proposed budget aligns with strategic goals but remain non-committal. With Germany navigating pressures from U.S. demands for increased military spending and the threat of an assertive Russia, the fiscal landscape is shifting towards greater financial commitments to security.
(With inputs from agencies.)
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