Politics · Spain · 4 hrs ago

Spain plans 15 new arms contracts worth more than €10 billion

Spain plans 15 new arms contracts worth more than €10 billion

Spain’s Defence Ministry plans to sign 15 new arms contracts before year-end.

The contracts are worth more than €10 billion in total, with nearly €1.5 billion to be spent this year.

That spending would allow Spain to meet its NATO pledge to devote 2% of its economy to military spending for a second year in a row.

The new projects would bring the number of major arms programmes under way to 94.

Unlike many earlier programmes, these focus more on upgrading equipment already in service, including aircraft and helicopters, and developing missiles and defences against drones.

Spain aims to keep 80% of the investment at home and 90% in Europe.

The government has approved a higher spending limit, and further approvals are planned so all 15 contracts can be awarded by 31 December.

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