Germany for the first time in the last three decades reported the planned allocation of an amount equivalent to 2% of GDP for defense, Azernews reports.

The government informed NATO about the transfer of $73.4 billion for military needs, writes the agency dpa, noting that for Germany this is a record amount in absolute terms.

According to documents from the archives of the North Atlantic Alliance, Germany last allocated 2% of GDP for defense in 1992. During the Cold War, Germany's military spending quota exceeded 3% of GDP.

NATO defense ministers will discuss the situation with military spending at a meeting in Brussels on February 15. It is expected that in 2024 about 20 out of 31 NATO states will fulfill the military spending quota of 2% of GDP.