The consequences of the war in Ukraine: Italy increases military spending
Reaching 2% of GDP. This is Italy’s new goal after that the Russian invasion and the war in Ukraine cast a specter over the security of the entire continent. Il Fatto Quotidiano explains: “The government’s goal is to gradually increase the overall budget up to 10 billion euros more per year, compared to the 30.4 billion which are the total defense expenditures foreseen for 2022 by the budget. of the State (through the spending chapters of the three Departments of Defense, Mise and Mef) “.
If the checks are positive, explains the Fatto Quotidiano, “the increase will be included in the budget law for next year and, if the budget is approved by Parliament, it will start from 2023, gradually. a total annual expenditure of between 38 and 40 billion by the end of the next legislature, in 2027-2028 “.
Ten billion more in military spending, target 2% of GDP in 2027
A bit like what happened in Germany, where last Sunday, following the start of Russia’s war against Ukraine, the government led by Olaf Scholz announced that it will raise defense spending above 2% of GDP in the next few years, and that it will make an additional “un a tan tum” expenditure of 100 billion to modernize the armed forces, the Draghi government also intends to press the accelerator. “The goal is to reach the level of defense spending that NATO requires, that is 2% of the gross domestic product (GDP)”, explains the Fact.
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