Germany’s Military Budget to be Doubled, Report Suggests
The German government is planning to increase the military budget by a significant amount, according to reports. The new coalition parties, CDU/CSU and SPD, are discussing a special fund of up to 400 billion euros for the Bundeswehr, in addition to a 500 billion euro fund for infrastructure.
The 100 billion euro special fund for the military, approved in 2022, has reportedly been exhausted or misused, with little impact on the military’s condition. The new fund would be a significant increase, with the Bundeswehr’s budget potentially rising to 400 billion euros.
The CDU/CSU and SPD are also considering a special fund for infrastructure, which could be used to improve the country’s roads, bridges and railways. However, the exact use of the funds is still unclear.
The military budget increase has been met with skepticism, with some critics arguing that the funds could be better spent on social programs or infrastructure. The German government has a history of prioritizing military spending over social welfare and the new fund could further exacerbate this issue.
The military industry, on the other hand, is expected to benefit from the increased spending, with shares of companies like Rheinmetall and others rising in recent months.
The new government is expected to push for the increased military spending, with CDU/CSU and SPD already agreeing on the plan. The increased spending is likely to be met with opposition from some parties, but the government is expected to have a majority in the new parliament.
It remains to be seen how the increased military spending will impact the country’s social programs and infrastructure, but it is clear that the military industry is set to benefit from the new fund.