Germany eyes goal of 1.5 percent defense spending by 2025

German Chancellor Angel Merkel, left, talks to defense minister Ursula von der Leyen to her visit to a Bundeswehr meeting in Berlin, Germany, Monday, May 14, 2018. ( Michael Kappeler/dpa via AP)

BERLIN — Germany's defense minister says Berlin will raise its military spending to 1.5 percent of GDP by 2025 — far short of the 2 percent goal demanded of NATO members by U.S. President Donald Trump.

Defense Minister Ursula von der Leyen said Monday that defense spending will reach 1.3 percent next year. She plans to tell allies at next month's NATO summit that Germany "wants defense spending's share of the gross domestic product to reach 1.5 percent in 2025."

German news agency dpa cited experts saying that would amount to about 60 billion euros ($72 billion), compared with 37 billion euros last year.

She didn't address claims Saturday by the new U.S. ambassador in Berlin, Richard Grenell, that Chancellor Angela Merkel has told Trump that Berlin will reach the 2 percent target by 2030.

Must Read

Planned racing ad on sails of Sydney Opera House...

Oct 8, 2018

A plan to project a horse racing advertisement on the famed sails of the Sydney Opera House is...

UK PM, Trudeau say Canada-EU deal a 'basis' for...

Sep 18, 2017

Prime ministers Theresa May of Britain and Justin Trudeau of Canada say their countries are working...

Trump to find a chilly host in Canada visit amid...

Jun 8, 2018

Trump has angered allies just as he makes first visit as president to Canada for a G-7 summit

Trump's tweets slam Canada and Trudeau anew from...

Jun 11, 2018

Trump takes more swipes at Canada and its prime minister over trade issues as he settles in for a...

The Latest: Trump tweeting about G-7 before Kim...

Jun 11, 2018

President Donald Trump is taking more swipes at Canada and its prime minister over trade issues as...

About Us

Banking Reporter is the largest-circulated online business news in the United States, bringing a whole new genre of business journalism more up close and more incisive.

Contact us: sales[at]bankingreporter.com

Subscribe Now!