In 2024, Berlin will exceed 2% of GDP in defense

(ANSA) - BELGRADE, JUN 18 - In 2024, Germany will spend more than 2% of its GDP on defence. The sector's expenditure of 90.6 billion euros sets a record, accounting for 2.12% of GDP. It is the first time the Federal Republic has met (and exceeded) the threshold set by NATO in 2014. It is a watershed moment two years after the start of Russia's war in Ukraine, and the result of Chancellor Olaf Scholz's new defence and security policy, which was announced as early as February 2022. (ANSA).