Germany could miss even reduced NATO defence spending goal - document
The government's tax revenues are likely to rise less than expected in coming years due to a slowing economy which means that options for additional spending are exhausted, the 22-page ministry document said. The document, prepared for Scholz to present to cabinet members, said the finance ministry had earmarked 7.3 billion euros ($8.34 billion) for additional defense and development aid spending until 2022.
However, it would require much higher spending to get close to the already reduced defence goal of 1.5 percent of GDP by 2024 as Chancellor Angela Merkel promised NATO allies last year, according to a separate graphic in the document. Military spending is expected to rise to 1.3 percent of GDP this year from 1.2 percent in 2018. Even stabilizing spending at the current level would require the government to shift money out of other programmes which could prove politically tricky. ($1 = 0.8750 euros) (Reporting by Markus Wacket and Sabine Siebold Writing by Michael Nienaber,)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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