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Home EUR/USD

Germany’s defense funding is said to be less than requested (EUR:USD)

currencycoach by currencycoach
July 8, 2024
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Germany’s defense funding is said to be less than requested (EUR:USD)
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German modern tank Leopard 2A5

ewg3D/iStock via Getty Images

  • Germany’s Ministry of Defense received less funding for 2025 than it had requested amid plans to increase spending by 6.7 billion euros ($7.25 billion), Reuters reported Monday.
  • German Defense Minister Boris Pistorius said the shortfall was “annoying,” and that his agency would have to make the most out of what it will receive. Spokespeople for the government declined to confirm reports by local media that said the ministry would receive an additional 1.2 billion euros.
  • Germany’s coalition government on Friday agreed to maintain German defense spending above the NATO goal of 2% of gross domestic product. An additional 30 billion euros will be added in 2028 to meet the target.
  • Russia’s invasion of Ukraine in 2022 pushed European countries to increase defense spending to prepare for growing threats.



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