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Germany's Scholz commits to spending 2% on defense 'in the 2020s, in the 2030s and beyond'

·1 min

German Chancellor reaffirmed commitment to spend 2% of national GDP on defense, both now and in the future. Germany has this commitment in 2024 for the first time since the early 1990s. Scholz emphasized the need for Europeans to take more responsibility for their security. Eighteen NATO members will meet the 2% spending target this year. Trump’s recent statement regarding NATO members’ spending target was noted. Germany announced a debt-financed fund to strengthen its armed forces. The country’s defense spending is expected to be approximately 72 billion euros this year. Concerns arise about meeting the defense spending goals after 2027.