“We make commitments that we know we can keep. (…) In a serious way, we cannot objectively commit to a date [to reach 2% of GDP for Defence], given the uncertain situation that the global economy is experiencing, with a huge increase in inflation, with pressure on interest rates, and the great determination that we have for a strong reduction of our public debt”, said António Costa.
The Prime Minister was speaking on arrival at the Madrid Exhibition Park, where the North Atlantic Treaty Organization (NATO) Heads of State and Government summit is taking place, having been asked when Portugal will be able to achieve the target set by NATO member states at the Welsh summit in 2014, when they committed to setting aside 2% of GDP for Defence.
António Costa said that “Portugal, at this moment, will fulfil the objective that it had assumed, in writing, for 2024: to reach 1.66% of the Gross Domestic Product (GDP)” for Defence.
According to the Prime Minister, when Portugal assumed, in 2018, the commitment to reach that 1.66% in 2024, it had been defined that it could reach 1.98% in the same year if the “community resources” that were planned were made available.