Sweden will increase defense spending to 5% of GDP, in line with NATO's increased minimum spending target
Kyiv • UNN
Sweden is ready to increase defense spending to 5% of GDP to meet NATO's new requirements. An increase in spending of 5% is planned.
Swedish Defense Minister Paul Jonson (M) has stated that Sweden is ready to meet NATO's new requirement to spend five percent of GDP on defense.
UNN reports with reference to Bloomberg and Omni Ekonomi.
Details
Swedish Defense Minister Paul Jonson has stated that Sweden is ready to meet NATO's new requirement to spend a higher level of GDP on defense.
We are ready to take responsibility
According to Paul Jonson, expenses are planned to increase by 5%.
The official also highly appreciates the countries of Europe, which, in his opinion, are doing a good job of modernizing their defense.
It has been clear for some time that the Swedish government is aiming to reach 3.5 percent of GDP in defense investments by 2030, the country's media remind.