Spanish Economy Minister Carlos Cuerpo said on Wednesday his country does not expect any repercussions from its refusal to meet the defence spending target of 5% of gross domestic product to be set by NATO member countries in a Summit held in The Hague.

Spain reached a deal with NATO to be excluded from a 5% of GDP defense spending target, days before the military alliance's leaders will gather at a summit, Prime Minister Pedro Sánchez said on Sunday.

Allies are poised to pledge to more than double their defense spending to reach a target the president pushed for earlier this year.