Spain will this year increase its defence spending to reach 2% of GDP – a NATO target – well ahead of the previously set 2029 deadline, Prime Minister Pedro Sanchez said today.

Among the 32 member states of the North Atlantic Alliance, Spain has the lowest defense spending as a percentage of its GDP, just 1.3% in 2024. European countries are under pressure to increase their military spending amid uncertainty generated by the second term of the Trump administration.

Sanchez stressed that the NATO target of 2 percent would be achieved through an additional 10.47 billion euros in spending, with a focus on increasing the size of the military, telecommunications, cybersecurity, and the procurement of military equipment.

“This plan will help us achieve (the goal) in record time,” the Spanish prime minister said, saying that “Spain will contribute to the defence of Europe.”

He said he was confident the plan would receive support from most MPs, adding, however, that his minority government, led by the Socialists, does not require parliamentary approval as it mainly reallocates existing resources and uses budget savings without affecting taxes or the deficit.

Sanchez argued that southern European countries have different challenges from those faced by NATO’s eastern wing allies and should focus on border controls, counter-terrorism, and cyberattacks, which he said should be counted as defense spending.

About 19% of the additional spending plan will go to modernizing Spain’s defense capabilities through the construction and procurement of military equipment, Sanchez said, stressing that his government is responding to rising geopolitical tensions.

“If you had asked me years ago about my government’s investment priorities for security and defense, my answer would have been different from the one I just described. But that’s not because our values and goals have changed, but because the world has changed.”