Germany will not achieve its own 3.5 per cent defence spending target by 2029. Defence Minister Boris Pistorius said that the country ramps up spending in the wake of Russia’s war with Ukraine. Germany’s defence spending will only be 3.05 per cent of gross domestic product (GDP) that year. A NATO summit in The Hague this year agreed that allies will reach a new spending target of 5 per cent of GDP by 2035. The target is made up of 3.5 per cent in the defence budget, and another 1.5 per cent of defence-related spending.