By Tom Hurley • 05 July 2022 • 15:47
Spain increases military budget by €1 BILLION after Russia invades Ukraine. Image: VanderWolf Images/Shutterstock.com
Following the NATO summit in Madrid on June 29 and 30, Spain will increase its military budget by €1 billion in order to move closer to the NATO request for all member nations to increase their defence spending to 2 per cent of gross domestic product.
The one-off expenditure said the extra funds will go towards the unexpected expenses caused by supporting Ukraine during the Russian invasion into the country.
In addition to sending aircraft and troops to NATO missions in Eastern Europe, Spain has also sent humanitarian and military aid to Ukraine itself.
A government spokeswoman said that the funding was approved in a cabinet meeting on Tuesday, July 5 “as part of our commitment to a clear and firm response to [the] invasion of Ukraine and to meet the extraordinary costs for our armed forces created by the war.”
Prior to the budget increase, Spain spent the lowest percentage of its GDP on military spending within the North Atlantic alliance, except for the small nation of Luxembourg.
Spanish officials promised NATO members that they would double its military budget from €13 billion to €26 billion by 2029 in order to meet the goal of spending 2 per cent of GDP on defence.
In a blow to Russia and Vladimir Putin, Finland and Sweden moved closer to joining NATO accession protocols were signed by all 30 NATO allies in Brussels on Tuesday, July 5.
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