German Finance Minister Lars Klingbeil has prepared a plan to gradually increase defence spending until 2029 in line with NATO’s future goals.
The German government plans to approve a financial plan on Tuesday that provides for a gradual increase in the defence budget to €152.8 billion.
In particular, in 2025, it is planned to increase spending from €51.95 billion in the previous year to €62.4 billion, and in 2026 to €82.7 billion. “The share of defence spending in gross domestic product (GDP) is expected to rise from 2.4% in 2025 to 3.5% of GDP in 2029. This is in line with the expected decisions at NATO level,” the report says.
In addition, Germany’s financial planning for the period up to 2029 provides for an annual sum of €8.5 billion in aid to Ukraine. The increase in defence spending became possible after Germany excluded defence and infrastructure spending from the so-called debt brake in March.
Bundeswehr Inspector General Carsten Breuer instructed that the German armed forces be fully provided with the necessary weapons and equipment by 2029.
