Germany Set to Double Defense Spending to €162 Billion by 2029

Germany plans to significantly increase its defense spending in the coming years. The country aims to double its defense budget to €162 billion ($189 billion) by 2029, a move driven by the need to rebuild its military in response to Russia's aggression in Europe. This investment push will include aid for Ukraine, as Germany seeks to bolster its military capabilities in the face of the ongoing conflict. The decision reflects a shift in Germany's defense strategy, moving away from its traditionally pacifist approach to a more robust stance on national security. The plan, which is part of a broader effort to modernize the German armed forces, comes as many NATO countries are grappling with the need to increase their defense spending to meet the alliance's target of 2% of GDP. Germany's decision to significantly boost its defense budget signals a recognition of the changing geopolitical landscape and the need to strengthen its military readiness.