Spanish Prime Minister Pedro Sanchez said on Monday that his government would meet NATO's target of 2% of gross domestic product (GDP) on defense this year, Reuters reported, citing BTA.
The plan calls for a 10.47 billion euro increase in military spending, with a focus on investments in telecommunications, cybersecurity and the purchase of military equipment.
„This plan will help us achieve the goal in record time. "Spain will actively contribute to the security of Europe," Sanchez said.
Against this backdrop, US President Donald Trump continues to insist that NATO allies increase their defense spending to 5% of GDP. At the same time, the European Commission is proposing relaxations in budgetary rules that would allow member states to increase their military spending by up to 1.5% of GDP per year over the next four years without incurring deficit penalties.
In 2024, Spain spent just 1.3% of GDP on defense - the lowest level among NATO members.
To enter into force, Sanchez's plan must be approved by the Spanish parliament, where the government currently lacks a parliamentary majority.