The Swedish government proposed a significant increase in defense spending from 2025 to 2030, aiming to meet and exceed NATO's 2% GDP target for defense expenditures.
Prime Minister Ulf Kristersson's government has proposed boosting defense spending by 10% in 2025, equivalent to 13 billion Swedish kronor ($132 bn). Parliament's approval would raise Sweden's defense spending to 2.4% of GDP next year.
During 2025-2030, the Swedish government proposes to increase defense spending by more than 170 billion Swedish kronor, which will allow the country to reach 2.6% of GDP in 2028, according to the government press service.
"The security situation requires stronger defense. Russia's war against Ukraine is a defining factor for security in countries neighboring Sweden," the government announcement emphasized.
These additional funds are earmarked for several key areas. According to the government, they will "enhance the operational capabilities of the Swedish Armed Forces, strengthen its contribution to NATO operations, and provide more ambitious and long-term support to Ukraine."
Specifically addressing support for Ukraine, the government explained, "For example, this will allow financing of the multinational coalition of forces and means that was created to support Ukraine to help meet its needs for logistical means, ammunition, etc."
While the coalition parties have agreed upon the proposal, it still requires approval from the Swedish parliament.
This move follows earlier announcements from the Swedish government about plans to double the civil defense budget over the next three years to prepare for wartime conditions.
In early September, Sweden announced a new military aid package for Ukraine worth over 400 million euros ($445 mn).
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