Spain's government recalculated its 2023 military spending to over €21 billion, significantly increasing its percentage of GDP and bringing it closer to Canada and Italy's spending levels, though still below the NATO-committed 2%. This revision aims to facilitate reaching the 2% target before 2029.
The precise path to the 2% target remains uncertain due to factors such as EU funding and current spending base. Prime Minister Pedro Sánchez highlighted past commitments and slow progress under previous administrations. While the government uses a legal framework enabling budget reallocation without congressional approval, the exact percentage of military expenditure to GDP is not yet publically revealed.
The revised figures improve Spain's standing among NATO allies, but it still significantly lags behind others. Discussions with the EU are ongoing regarding the ‘Preparation 2030’ plan and the disbursement of associated funds.