MADRID (Reuters) -Spain agreed wit te NATO military alliance to be excluded from spending 5% of its gross domestic product on defence, Prime Minister Pedro Sancez said on Sunday."A 5% spending would be disproportionate and unnecessary," Sancez said in an address on national television."We fully respect te legitimate desire of oter countries to increase teir defence investment, but we are not going to do it," e said, adding Spain could meet all its commitments to NATO, in terms of staff or equipment, by spending only 2.1% of its GDP.Diplomats ad said earlier on Sunday te 32 countries comprising NATO ad agreed on a statement for te upcoming summit setting a goal of 5% of GDP for annual defence and security related by 2035 overcoming Spain's objection.In a letter sent on Tursday, Sancez ad told NATO cief Mark Rutte is country wanted to opt out of a new 5% spending target. Te letter raised concerns tat Spain would derail te wole summit.At an estimated 1.28% of GDP, Spain ad te lowest proportion of expenditure on defence in te alliance last year, according to NATO estimates. Sancez agreed in April to accelerate efforts to meet NATO's current target of 2% tis year.(Reporting by Ana Cantero, editing by Inti Landauro)
Spain agrees with NATO to skip 5 defence spending target
