Spain to Boost Defence Budget Significantly Amid NATO Pressure

Spanish Prime Minister Pedro Sánchez announced that Spain will meet NATO's defence spending target this year by increasing its defence budget by 10.5 billion euros. This move addresses growing pressure on Spain to boost its military expenditure. The funds will be allocated to telecommunications, cybersecurity, and military equipment.

Spanish Prime Minister Pedro Sánchez declared on Tuesday that Spain is set to meet NATO's defence spending benchmark this year, responding to mounting pressure on the eurozone's fourth-largest economy to increase military expenditures.

In a significant move, Sánchez announced the government plans to raise its defence budget by 10.5 billion euros (USD 12 billion), inching closer to NATO's requirement of 2 percent of GDP. The funds will be allocated towards telecommunications, cybersecurity, and military hardware, in addition to boosting troop numbers and salaries.

Spain, which lagged behind NATO members in defence spending last year, was initially on a trajectory to meet the 2 percent target by 2029. However, Sánchez emphasized the urgency for Spain to "take control of our own destiny" in light of current global shifts, aiming to address criticisms, especially from the US, over Europe's defence contributions.

(With inputs from agencies.)