The authorities of Finland and Spain announced plans to increase defense spending.

The governments of Finland and Spain plan to increase defense spending in the coming years. The corresponding statements were made by Finnish President Alexander Stubb and Spanish Defense Minister Margarita Robles.

"The Finnish government has made two key decisions today, reflecting changes in the security sector. First, Finland will increase its defense spending to 3% of GDP by 2029," Stubb wrote on his page on the social network X (ex. Twitter).

The President stressed that this is part of Finland's contribution to Europe "taking greater responsibility for its own defense."

"Finland will always remain a responsible player in the world, ensuring its security and defense," Stubb concluded.

Spain, in turn, plans to increase its defense spending to 2% of GDP "well before" 2029.

"It's not so much a timing issue, but I believe that long before 2029, we will fulfill our obligations...> we are working on this seriously and strictly," Robles said on the sidelines of an event in Lisbon.

The minister also did not name any specific new dates.

Spain has the lowest defense spending among NATO members, at just 1.3%. Reaching the 2% level will require additional spending of €10 billion per year, the agency wrote.

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