Categories
Business Tech World

Germany plows 100 billion euros in defense investments



Germany will invest 100 billion euros ($112 billion) in military equipment this year and put more than two percent of its economic output into defense every year, Chancellor Olaf Scholz said Sunday, as Russia’s invasion of Ukraine prompts Europe’s largest economy to shut down. switch to his army. policy.

“We will set up a special ‘Bundeswehr’ fund,” he told parliament at a special meeting, adding that the budget will be used for investment and armament projects.

“From now on, we will invest more than two percent of gross domestic product – year after year – in our defense,” he said, calling for the special army fund to be included in the constitution.

Scholz also said the world was in a “new era” with the Russian invasion of Ukraine, noting that the question facing Western allies was whether they can muster enough power to set limits on “war instigators” like Vladimir. Putin.

“Basically, it’s about whether justice can be broken,” he said in a speech at a special parliamentary meeting.

He said he was still open to talks with Russia, but warned Moscow should be ready for “real dialogue.”

“We will not refuse to engage in talks with Russia. Even in this extreme situation, it is the job of diplomacy to keep the channels of communication open,” he said at a special parliamentary meeting.

ALSO READ: Russian troops enter Ukraine’s second city, fighting continues

“Anything else would be irresponsible.”

While the screws are tightened in Moscow due to the invasion of Ukraine, German Ministry of Transport announced it would impose a three-month ban on all Russian flights from its airspace from 2 p.m. GMT on Sunday

“In a message to Air Missions, the Ministry of Transport has imposed a flight ban on Russian aircraft and aircraft operators in and over German airspace,” the ministry said, adding that the order was valid for three months.

Only humanitarian flights are exempt.

Leave a Reply

Your email address will not be published. Required fields are marked *