Europe

Luxembourg doubles defense spending by 2028

Luxembourg doubles defense spending by 2028

defense

Budgets can reach close to € 1 billion, but still less than 2% of GDP agreed by NATO leaders in 2014.

Budgets can reach close to € 1 billion, but still less than 2% of GDP agreed by NATO leaders in 2014.

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Luxembourg Army at National Foundation Day Parade

Photo by: Anouk Antony

Luxembourg plans to increase its annual defense spending to 1% of its economy, or nearly 1 billion euros, by 2028 following Russia’s deadly invasion of Ukraine in February.

“Given the changing security situation in Europe […] I want to be a credible partner, “Defense Minister François Bausch told the media on Friday.

The war in Ukraine is just one example of growing geopolitical tensions around the world, Greens politicians said, saying the European Union defends its borders to secure democracy and the rule of law. Showed that we need to take responsibility. Realm.

Luxembourg plans to spend € 994 million by 2028, based on current economic forecasts. This is almost double the € 573 million next year, five times the year 2014, and the year NATO leaders promised to spend 2% of the size of the economy. In the army.

But even with a significant acceleration in military spending, Luxembourg is well below NATO’s target and budget spending reaches only 1% of gross domestic product (GDP).

“GDP-based alone is a problem for a small country like Luxembourg,” Bausch said Friday. Per capita spending on the armed forces of the Grand Duchy is higher than in many other countries, given the wealth of the country.

Democratic Party US Ambassador Tom Barrett, Encourages Luxembourg to strengthen the game and spend more on defense Immediately after the invasion of Russia in March. Luxembourg remains at the bottom of the list when it comes to defense spending compared to its size.

The government expects GP spending to increase by up to 0.72% by 2024, a goal currently planned to exceed that.

According to Bausch + Lomb, the country will continue to spend money on intelligence, surveillance and reconnaissance, air transport, space technology and cyber defense. Dual-use item that can serve both civilian and military purposes The joint will also be the focus The Luxembourg-Belgian battalion announced last year was another priority. Bausch said.

On June 14, Luxenburg signed an intention to develop a “first mission-ready, solar, autonomous” drone between Italian defense company Leonardo and Spanish company Skydweller Aero.

Luxembourg, along with Canada and Germany, is reluctant to set defense spending at least 2% of GDP. However, after the invasion of Ukraine, Germany announced that it would increase spending to reach its goal.

Luxembourg will meet in Madrid from June 29th to 30th to officially announce the plan to NATO leaders who will check the progress.


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http://www.luxtimes.lu/en/luxembourg/luxembourg-to-increase-defence-spending-by-2028-62b5739cde135b9236c55bc6 Luxembourg doubles defense spending by 2028

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