Austria to Boost Military Spending Amid Shifting Global Outlook

Austria's Chancellor Christian Stocker has stated that the nation will increase its military budget over the next seven years, reversing a long-standing trend of declining defense spending. This move reflects a broader European shift towards enhanced military preparedness in response to perceived growing threats and uncertainties, including Russia's invasion of Ukraine and concerns about future US security commitments to Europe. Stocker described the post-Cold War era of disarmament as a 'dream that is over.' Despite a budget crisis, the government plans to gradually raise military spending from below 1% of GDP to 2%.