Germany’s budget for 2026 was approved by lawmakers in the lower house of parliament on Friday, with expenditure of €525 billion ($608 billion). The plans include more than €180 billion in borrowing, greater than at any time in German history other than during the coronavirus pandemic. “This budget once again has record investments,” said Finance…
MOSCOW, May 1 (Reuters) – Russia’s defence minister on Wednesday ordered a hike in weapons production and said deliveries needed to be faster for the war in Ukraine, a week after U.S. President Joe Biden signed off on tens of billions of dollars of new military aid for Kyiv. President Vladimir Putin‘s 2022 invasion of…
TOKYO — Japan’s defense ministry is requesting a nearly 12% budget increase that includes two warships with advanced radar and long-range cruise missiles as it further fortifies the nation’s military in the face of North Korean threats and Chinese military advancement. The record 7.7 trillion yen ($52.5 billion) request for the 2024 fiscal year marks…
The Stockholm International Peace Research Institute (SIPRI), a leading global security think tank, reported that countries around the world are spending record amounts of money in defense budgets. Some of the reasons for this new trend, inflation, the war in Ukraine, US efforts to outpace China. For 2022, researchers recorded a year-on-year jump of 3.7%…
CNN — The House voted on Thursday to pass sweeping legislation that would authorize $858 billion in national defense funding and rescind the US military’s Covid vaccine mandate. The measure passed with wide bipartisan support with a tally of 350 to 80. House lawmakers approved a final negotiated version of the National Defense Authorization Act for fiscal…