Germany to Create Special €100 Billion Armed Forces Fund
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Chancellor Olaf Scholz said Germany will invest 100 billion euros ($113 billion) in a special fund to modernize the country’s military and boost defense spending annually to more than 2% of gross domestic product.
The special fund will be paid for through an addition to the 2022 budget, Scholz said on Sunday in the prepared text for a speech to a special session of the lower house of parliament in Berlin.