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Germany will not reach defence spending target of 3.5% in 2029
Published by Global Banking & Finance Review®
Posted on November 19, 2025
1 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 19, 2025
1 min readLast updated: January 20, 2026
Germany will not meet its 3.5% GDP defence spending target by 2029, according to Defence Minister Boris Pistorius. The spending will reach only 3.05%, below the pledged amount.
MUNICH (Reuters) -Germany will not hit its own 3.5% defence spending target in 2029, Defence Minister Boris Pistorius said on Wednesday, as the country ramps up spending in the wake of Russia's war with Ukraine.
Germany's defence spending will only be 3.05% of gross domestic product that year, Pistorius said in Munich.
That is less than the 3.5% pledged by Finance Minister Lars Klingbeil earlier this year.
A NATO summit in The Hague this year agreed that allies will reach a new spending target of 5% of GDP by 2035. The target is made up of 3.5% in the defence budget, and another 1.5% of defence-related spending.
(Reporting by Alexander Huebner and Sabine Siebold; writing by Tom Sims; editing by Rod Nickel)
The North Atlantic Treaty Organization (NATO) is a military alliance of countries from North America and Europe, established for mutual defense against aggression.
Economic growth is the increase in the production of goods and services in an economy over a period, typically measured as the percentage increase in real GDP.
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