The German defense budget could increase by another 9 billion euros if debt is reduced.

InfoQuest News Agency (02 April 2024)

German Finance Minister Christian Lindner said the defense budget could be increased by another 9 billion euros ($9.7 billion) from 2028 if Germany reduces its debt level.

A report published by the German news agency today (April 2) revealed that Mr. Lindner of the Liberal Democratic Party (FDP), a fiscally conservative party, said: This budget can be increased. If Germany can reduce its debt below the level of 60% of GDP set by the European Union,

Mr. Lindner said. “If we can reduce debt below this level, we may consider a Covid-19 debt repayment plan. Again starting in 2028.”

Reuters news agency reported that the German government borrowed emergency loans totaling about 300 billion euros in 2020, 2021 and 2022 in response to the Covid-19 pandemic. And the war in Ukraine

In addition, Germany plans to repay debts amounting to 9 billion euros annually. It will start from 2028 and he said that “if the impact of the pandemic on debt levels is resolved within that time, we will be able to significantly reduce our debt… giving us billions of euros to meet NATO targets for the federal budget.”

After Russia's invasion of Ukraine last February. 2022 Germany establishes a special fund worth 100 billion euros to purchase modern weapons. It also pledges to achieve NATO's target of spending at least 2% of GDP on defence.

By Ponyawat Puwonwattanawanit/Kanitench Sirisut

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