Stockholm (Reuters) – The Swedish government announced Thursday that it has obtained support from the parties represented in Parliament for its plan aimed at strengthening its defense expenses, which notably includes a loan of some 300 billion Swedish crowns (27.03 billion euros).
This plan guarantees that Sweden, which has become a member of NATO in March 2024, will bring its military spending to 3.5% of GDP by 2032.
The invasion of Ukraine by Russia in February 2022 forced Sweden to rethink its doctrine of security and to integrate the ranks of the Atlantic Alliance after more than 200 years of neutrality.
“We do this to make our children and grandchildren need to learn Russian,” said Elisabeth Svantesson, Swedish Minister of Finance, about the rearmament plan.
Sweden’s defense expenses have doubled since 2020 to reach around 2.4% of GDP, but NATO should set a higher goal at its summit in The Hague next week.
The priorities of the Swedish plan are the increase in army size and capacities, air defense and the increase in ammunition stocks. Most of the money – 250 billion crowns – will go to the army, while 50 billion will be devoted to civil defense and infrastructure.
“Sweden is in a very serious security situation,” said Pal Jonson, Minister of Defense, at a press conference.
“It is therefore a very good thing that we can present a global and long -term political agreement on very important defense investments in the years to come.”
The parties have been neglecting the Defense Expenditure Agreement for several months.
(Report Anna Ringstrom and Simon Johnson, Diana Mandi, edited by Sophie Louet)
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