Sweden to boost defence spending by $1.3 billion in 2025

Defence ministers of the NATO-Ukraine Council meet in Brussels

Sweden's Defence Minister Pal Jonson speaks to the media on the day of the NATO defence ministers' meeting at the Alliance's headquarters in Brussels, Belgium June 13, 2024. REUTERS/Johanna Geron/ File Photo

Source: REUTERS

NATO's newest member Sweden plans to raise its defence spending by 13 billion crowns ($1.3 billion) in the state budget for 2025 to a total of 138 billion, Defence Minister Pal Jonson said on Tuesday.

Military spending will rise in 2025 to 2.4% of GDP from 2.2% this year and is projected to hit 2.6% in 2028, Jonson told a press conference.

Moscow's full-scale invasion of Ukraine in 2022 sparked a historic policy U-turn in previously militarily non-aligned Sweden, which this year joined NATO and has vowed to further ramp up military budgets.

The centre-right government coalition, which relies on support from the far-right Sweden Democrats, is due to submit its budget bill for 2025 to parliament on Sept 19.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters