Switzerland is moving to increase defence spending in the wake of the Ukrainian war. Yesterday the Lower House of Parliament voted to hike the budget by one percent of GDP by 2030.
That would be a significant rise. The current budget is 0.67%. At the end of the cold war, it stood at 1.34%.
Politicians are now furiously debating if the current levels are enough due to increased security threats.
While the threat of a land invasion of the country is considered extremely unlikely, analysts point out there are more modern threats, such as cyber warfare, terrorist attacks, disinformation campaigns and economic blackmail.
Despite the vote, there are many hurdles before more money is spent on the army. The Upper House still has to decide – and then it’s likely any decision will still have to go to the people.
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