German chancellor announces big increases in his country’s defense spending today Olaf Solts. Speaking at an extraordinary session of the German parliament, he said that € 100 billion will be added to Berlin’s military budget this year.
This means that Germany will spend more than 2% of its annual GDP on defense, according to the BBC.
According to Solz, the world has entered a new era the Russian invasion of Ukraine. “There can be no other answer to Putin’s aggression,” he said.
“We must invest more in the security of our country to protect our freedom and democracy,” he said.
Germany has long resisted pressure from the United States and others to increase its defense spending to 2%, according to Reuters.
Source: News Beast
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
