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Germany Unveils €503 Billion Budget, Defense Spending Soars

6/26/2025

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Summary

Story summary

Germany's Vice-Chancellor Lars Klingbeil has introduced a bold €503 billion draft budget for 2025, prioritizing a record €62.4 billion for defense to meet NATO's ambitious 3.5% GDP goal by 2029. While the budget aims to enhance infrastructure and climate efforts, the proposed €82 billion debt increase has sparked fierce criticism from opposition parties.

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Story summary

Germany's Vice-Chancellor Lars Klingbeil has introduced a bold €503 billion draft budget for 2025, prioritizing a record €62.4 billion for defense to meet NATO's ambitious 3.5% GDP goal by 2029. While the budget aims to enhance infrastructure and climate efforts, the proposed €82 billion debt increase has sparked fierce criticism from opposition parties.