CONTENT PREVIEW
Industry

Spain tells NATO it will not meet goal of spending 2% of GDP on defence

26 January 2018

The Spanish government has said it has informed NATO that it will not be able to meet the organisation's defence spending target of 2% of GDP by 2024.

Defence Minister María Dolores de Cospedal revealed that a letter had already been sent when she appeared before the Congress’s Defence Commission in Madrid on 24 January.

However, she said Spain had committed itself to a gradual increase in military spending that should help it reach around 1.5% of GDP that year, equivalent to around EUR18 billion (USD22.4 billion).

De Cospedal pointed out that the Spanish defence budget did not include various items that are counted by other NATO countries as part of their military spending.

Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihs.com/contact



(138 of 397 words)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT