Germany has decided to increase its defense spending to a record level in 2022 against the backdrop of the war in Ukraine, according to a draft budget unveiled Monday, as Berlin seeks to exceed a spending target set by NATO in the coming years.
The draft budget, which parliament will discuss in the next few days, allocates more than 50 billion euros ($55 billion) for military spending this year, according to a government source, describing the figure as “record high.”
The government is also planning a “special fund” of 100 billion euros to modernize Germany’s armed forces starting in 2022.
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