Sweden to increase defence spending to 3.5% of GDP by 2030

The latest news on Sweden. The country is preparing to significantly ramp up its defence spending, targeting 3.5% of GDP by 2030, a sharp increase from the previously projected 2.4% for this year and 2.6% by 2028.

Prime Minister Ulf Kristersson announced this provisional goal in response to mounting concerns over European security and shifting United States priorities, as well as the increasing need for NATO members to bolster their military readiness.

While acknowledging the uncertainty of final figures, Kristersson emphasised the need for NATO members to strengthen their military capabilities, aligning with expectations that the alliance will soon push for a spending range of 3% to 4% of GDP.