Friedrich Merz, the next chancellor of Germany, has announced plans to increase spending on defense and infrastructure, aiming to ensure the country's security amid the potential decline of United States interest in Europe and NATO.
Together with the leaders of his party, the CDU, the CSU, and the SPD, Merz proposed amending the German constitution to allow defense spending above 1% of GDP without restrictions from the debt brake rule.
This change seeks to strengthen defense amid growing concerns of European governments to increase war efforts carried out due to the conflict between Russia and Ukraine.
Additionally, Merz highlighted the need to boost the German economy through a special fund of 500 billion euros for industrial and infrastructural investments, which is expected to help revive the country's economy in the next decade.
The debt rule reform is expected to be completed before the end of the year to prevent it from hindering these essential investments.
Alongside Merz was Markus Söder, the leader of the Christian Social Union party, which formed a coalition with the future chancellor's party to win the elections.
