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Germany is allocating 100 billion euros to a new armed forces fund

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German Chancellor Olaf Scholz delivers a speech on the Russian invasion of Ukraine during a session of the Federal Parliament of Germany, the Bundestag, in the Reichstag building in Berlin, Germany, on Sunday, February 27, 2022. The display is caused by a metal handrail on the press rostrum. (AP Photo / Michael Sohn)

BERLIN – German Chancellor Olaf Scholz said on Sunday that Germany is allocating 100 billion euros to a special fund for its armed forces, increasing its defense spending above 2 percent of GDP.

“It is clear that we need to invest much more in the security of our country to protect our freedom and our democracy,” Scholz said at a special session of the Bundestag in Berlin on Sunday morning.

The move is important for Germany, which has been criticized by the United States and other NATO allies for failing to invest properly in their defense budgets.

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