The Spanish government will increase its spending on defense to the equivalent of 2% of its economic output this year, Prime Minister Pedro Sanchez said.The government had previously promised to raise its spending to that level,

Prime Minister Pedro Sánchez said Spain will meet NATO’s defense spending target this year as pressure grows on the eurozone’s fourth-largest economy and NATO laggard to boost its military expenditure.

Spanish Prime Minister Pedro Sánchez announced Tuesday that his government will invest more than €10 billion to boost military spending, aiming to reach NATO’s defense spending target of 2% of GDP by 2029.