The announcement comes as Russia's invasion of Ukraine prompts Europe's biggest economy to switch gears on its military policy.
Germany will invest 100 billion euros ($112 billion) in military equipment this year and plough more than two percent of its economic output in defence annually, Chancellor Olaf Scholz said Sunday, as Russia’s invasion of Ukraine prompts Europe’s biggest economy to switch gears on its military policy.
“We will set up a special ‘Bundeswehr’ fund,” he told parliament in a special sitting, adding that the budget will be used for investments and armaments projects.
“We will from now on — year after year — invest more than two percent of gross domestic product in our defence,” he said, calling for the special army fund should be written into the constitution.
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