The Spanish government has advised to spend 2% to 2029 in defense, although Madrid has recently promised to achieve this goal even faster.
This year, Spain will spend an additional 2.08 billion euro ($ 2.28 billion) in defense due to the redistribution of funds for contracts of obtaining the Ministry of Defense, as the country is facing pressure from NATO allies, which requires it to achieve planned costs. This was announced on April 8 by the government, the Reuters reported.
As you know, among 32 NATO members, Spain has the lowest rate of defense costs as a percentage of GDP – just 1.3%. Achieving the target indicator of the 2% alliance will require additional costs of nearly 10 billion euros (10.8 billion dollars) per year.
The Spanish government has advised to spend 2% to 2029, although Madrid has recently promised to achieve this goal even faster – without clarifying new terms.
According to Pilar Alegria’s press secretary, funds received from credit transfers are primarily used for “modernization, maintenance and improvement of personnel, infrastructure and equipment” within the framework of existing contracts.
Earlier, Spain’s Prime Minister Pedro Sanchez said Spain, with the lowest cost of defending NATO, would develop and begin to implement a plan for strengthening the Tag -Sales defense sector.
Remember that Spain will provide Ukraine with military assistance for 1 billion euros until the end of 2025.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.