German Chancellor Olaf Scholz said that Germany will allocate 100 billion euros for its armed forces as it looks to increase defense spending in light of Russia’s invasion of Ukraine.
“It’s clear that we need to invest more in the security of our country in order to protect our freedom and democracy,” Scholz said, delivering a statement on Ukraine at a special parliament session.
Scholz said that the German army needs to have “new strong competences,” including better devices and equipment which “cost a lot of money,” announcing the 100 billion euro special fund for this purpose as part of the 2022 budget.
He added that the country will invest more than 2% of its GDP in defense every year from now on.
“Those who read Putin’s explanation about history, those who have seen him how he announced the war on TV, and before that I had talked to him for hours, so I cannot have any doubt that he wants to have a Russian empire. He wants to change Europe according to his imagination,” Scholz said.