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European Central Bank (ECB) Philip R. Lane stated that euro area defense spending is projected to increase from approximately 1.6% of GDP in 2024 to about 2.2% in 2035.
European Central Bank (ECB) Executive Board member Philip R. Lane spoke at the EEA/ESEM Annual Congress in Dublin, discussing the impact of increased defense spending on the Euro area economy. He noted that defense spending in the Euro area is projected to continue rising, reaching approximately 2.0% of GDP by 2028 and further increasing to about 2.2% by 2035.
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