Klopp led Liverpool to second place in the Premier League and their sixth European Cup success this season.
It came after a summer where he brought in the likes of Naby Keita, Fabinho and Alisson.
The Reds spent over £150million last summer, just months after paying £75m for Virgil van Dijk.
It was money well spent for Liverpool though as they ran champions Manchester City close.
A quiet transfer window had been expected for Klopp but the manager has now admitted he may need to spend to keep up with City,.
“Liverpool is an ambitious club and if we didn’t spend the same amount of money as others, we wouldn’t be able to compete,” Klopp told German broadcaster ZDF.
“Everybody’s splashing the cash, so we have to do the same.”
Liverpool have been linked with a number of players that would require large fees.
The likes of Antoine Griezmann, Nabil Fekir and Matthijs de Ligt have all been rumoured to be on Klopp’s radar.
And former Premier League star Darren Bent believes there is always room for improvement.
“You’re happy with what they’ve got, you can always strengthen somewhere,” Bent said.
“Where? You don’t know, obviously going forward they’re brilliant.
“Midfield it seems like they’ve got so many in there that can play.
“[Georginio] Wijnaldum, Naby Keita, Jordan Henderson and then [James] Milner slots in there.
“Obviously at the back [they’ve got] Virgil, [Joel] Matip, [Dejan] Lovren, Andy Robertson, [Joe] Gomez, Trent [Alexander-Arnold]. They’ve got players everywhere to be fair.
“I’m sure Jurgen Klopp is probably looking at something.
“At the moment you would say they are full strength. But I’m sure Jurgen Klopp is probably looking at one or two areas where he’d like a bit more cover.”