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Friday, June 25, 2021

Germany’s defence budget to drop further in 2015

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Germany’s headline defence budget is set to shrink again in 2015, despite NATO leaders recently agreeing to aim towards spending 2% of gross domestic product on defence.

The country is planning to spend EUR32.26 billion (USD41.72 billion) on defence in 2015, German Defence Minister Ursula von der Leyen told the Bundestag on 10 September during the first reading of the federal budget.

This amounts to just 1.09% of German GDP and is a decrease of EUR140 million in spending compared with 2014’s final budgetary figure of EUR32.4 billion – a 0.4% drop.

Von der Leyen did however indicate that some supplementary funds are expected to be added to 2015’s headline figure by the Ministry of Finance.

Read More:Germany’s defence budget to drop further in 2015 – IHS Jane’s 360.

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