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Which sector will receive the largest share of Germany's €100 billion military fund in 2024?
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German government budget allocations and defense sector reports
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Germany Boosts Defense Spending to 2.12% of GDP with €100 Billion Fund as EU Projects €326 Billion Defense Spending in 2024
Dec 4, 2024, 02:20 PM
Germany is significantly increasing its defense budget, allocating 2.12% of its GDP for 2024 and establishing a military investment fund of nearly €100 billion. This move aligns with broader trends in the European Union, where total defense spending reached €279 billion in 2023. The European Defence Agency projects that EU countries will raise their combined defense spending to €326 billion in 2024, marking a record 1.9% of GDP. This increase represents a 10th consecutive year of growth in military investment across the region, reflecting ongoing geopolitical tensions and the need for enhanced security measures.
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