Defense ends the year with the signing of contracts for 15 new weapons programs to comply with NATO

The Spanish Ministry of Defence is set to sign contracts for 15 new Special Modernization Programs (PEM) before the end of the year, with expenditures of nearly 1.5 billion euros in the same fiscal year. This will enable Spain to meet its commitment to NATO of dedicating 2% of its Gross Domestic Product (GDP) to military spending for the second consecutive year.

These new contracts, totaling over 10 billion euros, will join the 79 currently ongoing programs, including 35 from last year worth 34 billion euros, bringing the total number of major arms programs to 94. The Council of Ministers approved the necessary increase in the spending ceiling during the previous summer to initiate these programs, and in the last quarter of the year, it has given the green light to the Ministry of Industry's decrees that will allow pre-financing of most of them, with all of them expected to be awarded before December 31st, just a few days after the incoming government takes office on the 29th of November.