Germany lacks defence industrial strategy despite budget hike (3)

Naval Technology 2022.08.08 12:00
Germany's pledge to increase defence spending to 2% of GDP has not been accompanied by a strategy to leverage its industrial base. Germany's promise to increase its defence budget to 2% of its gross domestic product (GDP) by 2024, with this figure then being sustained as an average across a rolling five-year period, will equate to a defence budget of $82.0bn in 2024, rising to $85.7bn in 2027, according to GlobalData.
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