Spain to increase defense spending for Europe by 10.47 billion euros by 2025

Spanish Prime Minister Pedro Sanchez announced today that his government will increase defense spending for Europe by 2% of GDP this year.

He stressed that spending will increase by 10.47 billion euros, focusing on telecommunications, cybersecurity and military equipment.

"This plan will help us reach the 2% target in record time. Spain will contribute to the defense of Europe," Sanchez said.

Recall that Spain's defense spending amounted to only 1.3% of GDP last year, this was the lowest percentage among NATO countries.

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