Current:Home > FinanceOn the brink of joining NATO, Sweden seeks to boost its defense spending by 28% -Thrive Capital Insights
On the brink of joining NATO, Sweden seeks to boost its defense spending by 28%
View
Date:2025-04-27 14:51:57
STOCKHOLM (AP) — The Swedish government said Monday it wants to increase its defense budget by 28%, putting it on track to reach the military spending target 2% of gross domestic product set by the NATO alliance, which the Scandinavian country is preparing to join.
“We are in the most serious security policy situation since the end of World War II, which requires Sweden to have a defense that is ready to protect Swedish territory,” defense minister Pål Jonson said.
Unveiling a defense bill for 2024, Sweden’s center-right coalition government said military spending would increase by a total of 27 billion kronor ($2.4 billion). Of that amount, approximately 700 million kronor ($63 million) will be spent on Sweden’s future membership of NATO.
Jonson said Sweden must adapt its preparedness and its military exercises to prepare for NATO membership but must also continue its support for Ukraine.
In May last year, Sweden — and neighboring Finland — sought protection under NATO’s security umbrella after Russia invaded Ukraine.
However, Sweden, which abandoned a long history of military nonalignment, is still waiting to become the 32nd member of the alliance. Finland joined earlier this year.
New entries must be approved by all existing members, but Turkey has so far refused to ratify Sweden’s application. Ankara said this was because Sweden was refusing to extradite dozens of people suspected of links to Kurdish militant organizations.
Turkey has also criticized a series of demonstrations in both Sweden and Denmark where the Quran, Islam’s holy book, was burned.
At a NATO summit in Vilnius in July, Turkey’s President Recep Tayyip Erdogan said Turkey would drop its objection to Sweden’s membership, after more than a year of blocking it. However, the Turkish parliament must still ratify the application, as must Hungary.
The three-party Swedish government consists of the conservative Moderates, the Christian Democrats and the Liberals. They have a majority in the Swedish parliament with the help of the Sweden Democrats, a far-right party that has entered the political mainstream after years of being treated as a pariah by the other parties.
veryGood! (386)
Related
- Jury selection set for Monday for ex-politician accused of killing Las Vegas investigative reporter
- What DNA kits leave out: race, ancestry and 'scientific sankofa'
- We’re Convinced Matthew McConaughey's Kids Are French Chefs in the Making
- U.K.'s highly touted space launch fails to reach orbit due to an 'anomaly'
- Jamaica's Kishane Thompson more motivated after thrilling 100m finish against Noah Lyles
- Chris Martin Reveals the Heartwarming Way Dakota Johnson Influenced His Coldplay Concerts
- NPR's most anticipated video games of 2023
- Keep Your Dog Safe in the Dark With This LED Collar That Has 18,500+ 5-Star Reviews
- A steeplechase record at the 2024 Paris Olympics. Then a proposal. (He said yes.)
- Keep Your Dog Safe in the Dark With This LED Collar That Has 18,500+ 5-Star Reviews
Ranking
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- El Niño is coming back — and could last the rest of the year
- Turkey's Erdogan says he could still win as runoff in presidential elections looks likely
- Pakistan court orders ex-PM Imran Khan released on bail, bars his re-arrest for at least two weeks
- Tropical rains flood homes in an inland Georgia neighborhood for the second time since 2016
- 'The Last of Us' game actors and creator discuss the show's success
- Most of us are still worried about AI — but will corporate America listen?
- That panicky call from a relative? It could be a thief using a voice clone, FTC warns
Recommendation
Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
'Dead Space' Review: New voice for a recurring nightmare
John Deere vows to open up its tractor tech, but right-to-repair backers have doubts
What if we gave our technology a face?
British golfer Charley Hull blames injury, not lack of cigarettes, for poor Olympic start
This man's recordings spent years under a recliner — they've now found a new home
Transcript: Rep. Lauren Underwood on Face the Nation, May 14, 2023
What if we gave our technology a face?