Spain is accelerating its defense spending to meet NATO's 2% GDP target by 2029, responding to new global security challenges and European Union pressures.

Prime Minister Pedro Sánchez has committed to this increase, emphasizing the need for fiscal flexibility to avoid cuts in social programs.

The government plans to finance this through European debt instruments, such as eurobonds, and aims to balance defense needs with social priorities.

However, Sánchez faces resistance from coalition partners like Podemos and Sumar, who oppose higher military budgets.

To address this, he is engaging with all parliamentary groups, seeking broader support.

The move aligns with the EU's broader "Rearm Europe" initiative, which calls for significant defense investments across member states.