Sweden to boost defence spending by $1.3 billion in 2025
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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
STOCKHOLM (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.
($1 = 10.1579 Swedish crowns)
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
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