The next German federal budget is available here (well, its PDF document).
Einzelplan 14 (the budget of the ministry of defence, BMVg) gets 10.3% of the cake in 2011:
Die Verteidigungsausgaben werden im Entwurf des Bundeshaushalts 2011 mit rd. 31,5 Mrd. [Euro] veranschlagt, im Finanzplan bis 2014 mit rd. 30,9 Mrd. [Euro] im Jahr 2012, mit rd. 29,6 Mrd. [Euro] im Jahr 2013 und mit rd. 27,6 Mrd. [Euro] im Jahr 2014 fortgeschrieben.
(The defence expenditures are being set in the draft of the federal budget 2011 with approx. € 31.5 billion, in the financial planning till 2014 with approx. € 30.9 billion in the year 2012, with approx. € 29.6 billion in the year 2013 and with approx. € 27.6 billion in the year 2014.)
In billion Euros:
(2010-2014 in 2010 Euros)
The government expects an economic output of € 2,447 billion in 2011. This would set the military expenditures at a rather low 1.3% GDP. Well, we're not in a Cold War any more.
The government's expectation for economic output in 2014 appears to be € 2,571 billion. The military expenditures would then drop below 1.1% GDP.
The budget deficit has to be reduced to .35% BIP (~GDP) in 2016 for legal reasons (constitution article 115). Additional constraints for the years 2011-2015 were set in multilateral agreements and treaties. The overall budget had to be planned with this in mind.
The planned budget deficits in billion Euros are
The military expenditures will apparently be smaller than the federal budget deficit till 2013.
Often times you need to invest first in order to create long-term savings; golden handshakes, real instead of improvised building repairs, setting up new and more efficient barracks and such.
The financial planning aims instead at a quite immediate and steady reduction. They really should have spent several billions immediately when the economic crisis raised calls for stimulus spending. That could have been the kick-off spending for future savings and it would have reduced the backlog of delayed hardware procurement and construction projects.
Instead, we'll feel the cuts more severely than the mere budget totals suggest.
I am personally fine with a trend towards 1% GDP military expenditures as long as security situation on the EU's periphery doesn't deteriorate substantially. My disagreement is rather about the "how", not about the "how much in total". I guess everyone with some interest in defence policy has his own thoughts and disagrees at least a bit with such a budget plan.
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The last party (CDU) has in the meantime abandoned the conscription. We're going towards about 185,000 military personnel (the last conscripts will leave in mid-2011) and 75,000 civilian personnel.
P.S.: Let's not discuss "free riding" in the comments before everyone has read this.