Arsene Wenger says he is prepared to enter the transfer market before the window closes on 31 August.
The Arsenal boss has been criticised by fans for a lack of signings in recent years but his squad has suffered a spate of recent injuries.
"I can reassure people we're ready to spend the money we have," Wenger said.
"It's important to spend money but more important to spend it the right way. There are two markets, one for English clubs, one for the rest of Europe."
The Gunners saw Aaron Ramsey and Alex Iwobi go off in their opening Premier League defeat against Liverpool on Sunday, while Per Mertesacker, Gabriel and Jack Wilshere were injured in pre-season and Danny Welbeck is a long-term absentee.
Wenger said Ramsey "should be back after the international break", ruling him out of league matches at Leicester on Saturday and Watford on 27 August and making him doubtful for Wales' opening World Cup qualifier with Moldova on 5 September.
The 66-year-old Frenchman, who has been in charge of the Gunners since October 1996, urged the fans to trust his judgement and said he had completed over 400 transfers during his time at Arsenal.
"It is dangerous. English clubs suffocate themselves by buying players at a high price with high wages, if it goes wrong you are left with players with high wages," he said.
"The identity of the buyer multiplies transfers by two or three or even 10 times more."