6/30, 9:53 AM (Source: TeleTrader)
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Spain to spend 2% of GDP on defense by 2029 - PM

Spanish Prime Minister Pedro Sanchez said on Thursday that Spain will increase its defense budget to 2% of its GDP by 2029, in line with NATO commitments. His comments come as Madrid hosted a NATO summit where member states vowed to strengthen their long-term deterrence and defense and deploy additional in-place combat-ready forces on the alliance's eastern flank.

Sanchez praised the outcome of the summit in an interview with RTVE, stating that its objectives have been met. "We are at a defining moment for security in Europe, sought not by Europe, but by Putin," he noted. Commenting on Sweden and Finland's accession to NATO, he said the two countries decided to join "not because they have an expansionist spirit, on the contrary, what they want is to defend themselves from a real threat that is Putin's Russia."

Baha Breaking News (BBN) / DJ