Economy

Spain Accelerates Defense Spending to Meet NATO Target by 2025, Strengthening EU Security

Spain's Commitment to NATO and EU Security

In a significant move, Spanish Prime Minister Pedro Sanchez announced on Tuesday that Spain is set to achieve NATO's 2% defense spending target by 2025, ahead of its initial schedule. This decision underscores Spain's dedication to enhancing both national and collective security within the NATO and European Union frameworks.

Strategic Defense Investment

The Council of Ministers has greenlit a substantial €10.47 billion increase in defense expenditure. This investment will prioritize advancements in telecommunications, cybersecurity, and military procurement, marking a pivotal step in Spain's industrial and technological strategy.

Next Steps

The detailed plan, aimed at bolstering Madrid's role in NATO and the EU, is scheduled for submission to Brussels and NATO headquarters on Wednesday for evaluation and approval.