
Germany plans to massively boost defense spending in 2022 with a new $112.1 million security fund for military modernization, in light of Russia’s invasion of Ukraine. Olaf Scholz, the German chancellor, also announced Sunday during an address at a special parliamentary session that the country will now invest more than two percent of its GDP in defense annually moving forward. “We have set this goal not only because we have made a promise to our friends and allies to increase…