<h1>Germany to boost defense spending to 3.5% of GDP by 2029 from current 2.4% level</h1> Germany plans to increase defense spending to 3.5% of GDP by 2029, up from 2.4% this year. The finance minister announced this commitment as part of new government spending plans, aligning with NATO's proposed target increase from 2% to 3.5%. The coalition government loosened debt rules to enable higher defense spending and aims to make the military the strongest conventional army in Europe. Germany previously struggled to meet the 2% target but achieved it through a special modernization fund that expires in 2027. Overall government spending will rise from 503 billion euros to 573.8 billion euros by 2029.