German Parties Agree to $107 Billion Boost in Military Funding

The money will go into a special military fund to be spent over the next several years

On Sunday night, Germany’s ruling coalition reached a deal with its main opposition party on a major increase in military spending.

Shortly after Russia invaded Ukraine in February, German Chancellor Olaf Scholz pledged to increase military spending and proposed a plan to commit $107 billion to a special fund that will be spent over the next five years to bring Germany’s military budget to 2% of its Gross Domestic Product (GDP).

Talks on the increase in spending stalled, but now that the parties have agreed, the $107 billion fund will be brought to parliament and enshrined in Germany’s constitution. Scholz said the agreement “was the right answer to the turning point that started with Russia‚Äôs attack on Ukraine.”

The $107 billion in funding will bring Germany’s annual military budget from about $54 billion to about $75 billion over the next five years. Raising military spending to 2% of GDP has long been a NATO goal for its members. Under Scholz’s plan, Germany aims to reach the 2% goal as a multi-year average, meaning in some years Germany will spend more on its military than in others.

Scholz has come under pressure internally to send more weapons into Ukraine as he had been hesitant to send heavy equipment. Scholz has said that the German armed forces, known as the Bundeswehr, have run out of weapons to ship to Ukraine, and part of the investment is expected to go to arming Kyiv, although Berlin’s spending plans are not yet clear.

Author: Dave DeCamp

Dave DeCamp is the news editor of Antiwar.com, follow him on Twitter @decampdave.