Spain will gradually raise spending on defense to 2% of GDP by 2029

Spain will gradually raise spending the equivalent to 2% of the country's gross domestic product by 2029, Prime Minister Pedro Sanchez said on Thursday.

"The government is committed to raising our defense budget to close to 2% of GDP by 2029," he told national TV station TVE.

All NATO member countries have committed to spend on defense the equivalent of 2% of GDP.