Spain Races to Boost Defense Spending in Record Time

Spanish Prime Minister Pedro Sanchez has pledged to meet NATO's defense spending target of 2% GDP by increasing spending by 10.47 billion euros. This move is aimed at enhancing telecommunications, cybersecurity, and purchasing military equipment. The plan requires congressional approval, where the current government lacks a majority.

The Spanish government, led by Prime Minister Pedro Sanchez, is set to significantly boost its defense budget in an effort to meet NATO's GDP target by the end of the year.

A proposed increase of 10.47 billion euros focuses on critical areas such as telecommunications, cybersecurity, and military procurement, allowing Spain to fulfill its NATO commitment much earlier than initially planned.

The approval of this proposal by congress is crucial, where Sanchez's Socialist cabinet does not currently hold a majority, posing potential challenges in the legislative process.

(With inputs from agencies.)