Germany will boost defence spending by more than two-thirds by 2029, outpacing France and the UK as Chancellor Friedrich Merz drives a massive rearmament of Europe’s largest country in the face of an aggressive Russia and a volatile America.
German military expenditure is projected to reach €162bn in 2029, up from €95bn this year, according to budget plans seen by the Financial Times which are due to be presented by finance minister Lars Klingbeil on Tuesday.
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