German Finance Minister Christian Lindner is against spending more on defence beyond NATO’s target of 2% of gross domestic product (GDP).

“Given the size of the German economy, 2% of defence spending is sufficient. We must decide over the next years, but maintaining 2% is already challenging,” Lindner told a panel discussion before the official opening of the Munich Security Conference on Friday.

Lindner said that the target would become harder for Berlin to meet from 2028, when the a one-off rearmament programme worth €100 billion ($107 billion) to upgrade the Bundeswehr expires.

The finance minister reiterated his desire to see Germany stick to its traditional fiscal discipline. He said the need to make military improvements in Europe was no reason for debt-fuelled spending.

He spoke out in favour of a single market in the EU for defence manufacturers and joint procurement, but said that economic growth was ultimately the key to enhancing defence capabilities.

He said it had become “a sport” in Brussels lately to see the answer to every problem in joint EU borrowing.