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

MADRID, June 30 (Reuters) – 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 defence budget to close to 2% of GDP by 2029,” he told national TV station TVE.

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

(Reporting by Inti Landauro and Christina Thykjaer. Editing by Emma Pinedo)

Photo courtesy of the Ejército de Tierra