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Berlin promises to increase defense spending

Recently it became known that the Minister of Finance Scholz expects an average of around five billion euros of lower tax revenue per year. Nevertheless, the Fe

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Berlin promises to increase defense spending
Recently it became known that the Minister of Finance Scholz expects an average of around five billion euros of lower tax revenue per year. Nevertheless, the Federal government says an increase in the investment in the German army and their equipment. the

In the dispute with the US over defence spending, Germany has made new Commitments. The Federal government presented to the Nato, according to the Reuters and mirror on Tuesday of a strategy paper in which it is committed, is bound to increase the investment in the German armed forces and their equipment until 2024 to 1.5 percent of gross domestic product (GDP). In addition, according to this, the increase in the years should be continued after 2024.

The planned military spending for 2019 to 43.2 billion euros. It should rise by 2025 to 1.5 percent of GDP, would be the on the Basis of current values almost 51 billion euros. But as the economy grows each year, it is possible that the German military spending would have to rise by 2025 to more than 60 billion euros.

the promise of the Federal government to the Nato bursts in the internal political discussion about a billion-dollar hole in the financial planning for the next five years. On Monday it became known that the Ministry of Finance of the SPD Vice-Chancellor, Olaf Scholz, with an average of around five billion euros, attributed to lower tax revenues per year. In the medium-term financial plan to 2023 24.7 billion euros, missing the forecast of below-the-line. One reason is that the growth is forecast to 2019 have been from 1.8 to 1.0 per cent downwards.

defense Minister Ursula von der Leyen (CDU) stressed on your journey through the Baltic States on Monday and Tuesday, that you product was in each case, on the planned increase of defense spending to 1.5 percent of gross domestic.

Nato agreed 2014, at their summit meeting in Wales to ensure that each member state's expenditure is to move the defence to two per cent of the gross domestic product. Germany has increased the share of GDP since then, from 1.18 to 1.24 per cent in 2018.

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