Germany commits 100 billion euros to new armed forces fund
27 February 2022, 11:14
The announcement by Chancellor Olaf Scholz raises the country’s defence spending above 2% of GDP.
German Chancellor Olaf Scholz has said Germany is committing 100 billion euros (£84 billion) to a special fund for its armed forces, raising its defence spending above 2% of GDP.
“It’s clear we need to invest significantly more in the security of our country, in order to protect our freedom and our democracy,” Mr Scholz told a special session of the Bundestag in Berlin on Sunday morning.
The move is a significant one for Germany, which has come under criticism from the United States and other Nato allies for not investing adequately in its defence budget.
Mr Scholz’s announcement is the latest in a series of major shifts in German defence and security policy this weekend in response to Russia’s invasion of Ukraine.
On Saturday evening, the German government announced that it would be sending weapons and other supplies directly to Ukraine, which is fighting to stop Russia invading its capital city, Kyiv.
