Alex Trelinski
SPAIN has brought forward by four years its plan to spend 2% of its GDP on defence.
The budget increase will happen this year, according to Prime Minister, Pedro Sanchez, who announced the news on Tuesday.
It means a massive €10 billion boost in 2025, to reach a total spend of over €33 billion.
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The added commitment to NATO as a percentage is still lower than other members of the military alliance.
Sanchez will give further details to Congress in May but the rise will not be submitted for parliamentary approval.
NATO members have been increasing defence budgets following pressure from US President Donald Trump to do so, or face cuts from his administration.
“This plan will be sent to Brussels tomorrow for its technical and budgetary assessment by the European Commission and NATO,” Sanchez told reporters at a news conference.
He stressed that the extra investment will not require tax rises, fresh borrowing, or cuts to social or environmental initiatives.
“We will finance this plan without touching a single euro of the welfare state or the pockets of our citizens,” Sanchez said.
The money will come from redirected EU Next Generation funds, reduced public debt interest payments, and unused budget items from 2023, he added.
The Prime Minister said the military investment aims to convert a time of global insecurity into an opportunity to boost Spain’s economy and industrial development.
