According to a recent study by EY, a significant increase in military spending would boost the German economy and create tens of thousands of jobs. It is not only military companies that could benefit, they declare.
A significant increase in military spending would not only be an investment in Germany’s own security, but also a real economic stimulus program. An increase from NATO’s previous 2% target to 3% of gross domestic product would increase European GDP growth by 0.66%. In addition, 660,000 new jobs could be created across Europe. This was the result of an analysis carried out by management consultants EY on behalf of Dekabank and published in the business daily Handelsblatt.
German added value would increase by €6.4 billion, and 50,000 additional jobs could be created in Germany. According to the report, the London School of Economics comes to a similar conclusion.
