The Prime Minister, Luís Montenegro, justified the increase in defense investment on Monday, arguing that investments in this area also equate to investments in “people’s dignity.”
“Even when we invest in defense, we are investing in people’s dignity,” he stated to journalists on the sidelines of the United Nations Fourth International Conference on Financing for Development in Seville, Spain.
“We are investing in defense to achieve more peace. We are investing in defense to deter those who threaten human life globally. We are investing in defense to ensure that democracies survive and develop,” he added.
The Prime Minister emphasized that the goal of defense investment is also to ensure that “citizens can have dignity and access to their rights, freedoms, and guarantees—first and foremost, our own, those who live in our territory, who live in our European community, who live in the countries composing our alliance, but also everyone else,” he affirmed.
On Thursday, at the end of a NATO summit, the Prime Minister committed to reaching 2% of GDP in defense by the end of this year, which, according to government estimates, will require an investment increase of about one billion euros.
Apart from this target, the NATO summit agreed that allies should invest 5% of GDP in defense-related expenses, with 3.5% devoted to traditional military expenditures (Armed Forces, equipment, and training) and an additional 1.5% in investments such as infrastructure and industry by 2035, with an interim review in 2029.
It is noteworthy that the UN conference, which is taking place in Seville until Thursday, aims to relaunch the mobilization and allocation of resources for development, as well as international cooperation in combating poverty. Representatives from over 190 United Nations countries signed the ‘Seville Commitment’ document on Monday, at the start of the meeting, outlining a series of commitments and initiatives for the next decade.
To journalists, Montenegro argued that it is “necessary to invest in the welfare state,” “stimulate wealth creation,” “ease the tax burden,” and “encourage people to work and settle” in Portugal, but in terms of cooperation, “does not forget responsibilities.”
“Last year, for example, we increased by about 20% the amount we had for cooperation and development. Whenever the country’s financial situation allows, we can make that contribution. We’ve made many contributions, and in some cases, we’re even the first,” he highlighted.
Over 60 world leaders are attending the Seville conference on development financing, taking place ten years after the previous one in Ethiopia in 2015.
The confirmed leaders in Seville include the President of the European Commission, Ursula von der Leyen, and the Prime Minister of Spain, Pedro Sánchez, who will host alongside the UN Secretary-General, António Guterres.
Throughout the four-day conference, leaders from major international financial organizations like the World Bank and the International Monetary Fund, along with agency heads, development support program officials, private sector representatives, and Non-Governmental Organizations (NGOs), will also attend.
