Sweden to Raise Defense Spending to 5% of GDP

Amid rising security threats, Sweden will boost its defense spending to 5% of GDP.

Swedish Prime Minister Ulf Kristersson made the announcement during a joint press conference with NATO Secretary General Mark Rutte in Stockholm on June 12, as reported by European Pravda.

Kristersson noted that just a few months ago, the Swedish government presented the plans for the most significant defense investments since the Cold War.

“Today, I want to confirm that Sweden will meet NATO’s new defense spending target of 5% of GDP. At least 3.5% of GDP will be allocated to key defense needs to meet NATO’s new capability goals,” said the Swedish Prime Minister.

Kristersson added that the decision will be formalized after the NATO summit in The Hague, scheduled for June 24–25.

“We understand that regardless of the outcome of the NATO summit, we have a unique geographical position, and we must be prepared for future threats from Russia,” the Swedish leader emphasized.

He stressed that the driving force behind the increase in defense spending is Russia’s war of aggression against Ukraine, also noting that Sweden has “known Russia for a very long time.”

“Russia is a threat not only to Ukraine but to all countries in Europe and the Alliance,” Ulf Kristersson emphasized.

Regarding hybrid threats, Sweden is currently investigating around 30 cases of damaged equipment on communication towers, which may be signs of systematic sabotage activity.

In all cases, the perpetrators cut cables and damaged critical components without stealing any equipment.

As part of strengthening the strike capabilities of its armed forces, Sweden will purchase and integrate Taurus cruise missiles into its Gripen C fighter jets by 2028.

In addition, in early April, the Swedish Ministry of Defense ordered four C-390 Millennium multi-role military transport aircraft from the Brazilian company Embraer.