Germany hits 2% Nato target for first time since 1992, reports dpa

Germany has met a Nato alliance target to spend 2% of its gross domestic product on defence for the first time since 1992, the dpa news agency reported on Wednesday, as spending ramped up after Russia's invasion of Ukraine two years ago. The German government is allocating the equivalent of $73.41 billion for defence spending in the current year, dpa reported. This is a record figure for Germany in absolute terms and would be 2.01% of GDP.