March 1, 2015 / 12:22 PM / 2 years ago

Schaeuble expects Germany to boost spending on defense, security

German Finance Minister Wolfgang Schaeuble attends a session of the Bundestag, the lower house of parliament, in Berlin February 27, 2015.Hannibal Hanschke

BERLIN (Reuters) - Germany will spend more on defense in coming years in response to growing global instability, Finance Minister Wolfgang Schaeuble said in an interview published on Sunday.

He did not tell newspaper Bild am Sonntag how much extra Europe's largest economy would spend, or when the increases would kick in.

"Of course we'll have to shoulder higher spending on defense in the next few years given the various crises and instability in the world," he was quoted as saying.

"In the short-term, i.e. for the coming year, you can't do much with a bigger defense budget because industry simply can't deliver big defense projects that quickly," he added.

Asked which ministry could expect more money in future, Schaeuble said he had suggested that Germany moderately boost spending on development aid. He did not say to whom he had made the suggestion.

The country would need to increase the amount it spends on defense and domestic security because "unfortunately the world has become less safe," he added.

Reporting by Michelle Martin; Editing by Andrew Heavens

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