BERLIN, Germany: The German finance ministry has announced that the country will change its constitution to allow for a special defense fund worth $107.35 billion, in response to Russia’s invasion of Ukraine.
According to the country’s centre-right opposition and ruling coalition, agreement has been reached that will require a two-thirds majority to exempt the defense fund from previous constitutional limits.
The fund will be used over several years to increase the regular defense budget, enabling Germany to meet NATO’s target of spending 2 percent annually of economic output on defense.
Defense Minister Christine Lambrecht called increasing the defense budget an “urgently needed step.” In a statement posted to Twitter, she said, “Finally, we can equip our troops as they deserve and as they urgently need to ensure national and alliance defense.”
German Chancellor Olaf Scholz described the move as “a huge step” for the security of Germany and Europe. “With 100 billion, we ensure that the Bundeswehr can fulfill its defense mission better than ever before,” he said on Twitter.
