Portugal Accelerates Defense Spending Increase to 2%
At his inauguration ceremony held at Palácio da Ajuda, Lisbon, newly sworn-in Prime Minister Luís Montenegro laid out an ambitious plan to boost Portugal's defence spending. He mentioned that this plan should be wrapped up "in the upcoming days" and roll out over the following years. Montenegro has promised to keep Chega and the PS, the two largest opposition parties, in the loop by giving them "prior heads-up."
In this setting, Montenegro plans to bring up the goal of reaching 2% of GDP to be invested in this sector at the upcoming NATO summit. If luck is on our side, this goal may be attained as early as 2025.
Montenegro stressed that the plan promises to be practical, ensuring that it safeguards the fiscal balance and essential social functions without difficulty.
On a related note, Montenegro's initiative falls in line with NATO's overall aim of getting member states to pump up their defence spending to shore up collective security efforts. By presenting the plan at the NATO summit, we display Portugal's resolve to meet our defense obligations while maintaining a balanced budget and preserving vital social functions.
It's worth noting that Montenegro's move to consult Chega and the PS reflects his intention to foster collaborative political landscape. While Chega leader André Ventura and PS's Carlos César have signaled their support for Montenegro's minority government, it remains uncertain if they will play an active role in the defense spending plan.
In accordance with Montenegro's plans, the upcoming NATO summit will see Portugal's aim to allocate 2% of their GDP towards defense, a goal potentially achievable by 2025. This policy-and-legislation move, involving consultation of opposition parties Chega and the PS, is part of Montenegro's efforts to create a more collaborative political landscape, as signaled by the leaders' support for his minority government. This development is significant news within the broader context of politics and general-news.
