Current:Home > MarketsOn the brink of joining NATO, Sweden seeks to boost its defense spending by 28% -AssetScope
On the brink of joining NATO, Sweden seeks to boost its defense spending by 28%
SignalHub View
Date:2025-04-08 12:27:39
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! (83523)
Related
- Backstage at New York's Jingle Ball with Jimmy Fallon, 'Queer Eye' and Meghan Trainor
- Cameron Diaz and Benji Madden Welcome Baby No. 2
- Colorado stuns Florida in 102-100 thriller in NCAA Tournament first round
- South Africa water crisis sees taps run dry across Johannesburg
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Princess Kate video: Watch royal's full announcement of cancer diagnosis
- Former Georgia insurance commissioner John Oxendine pleads guilty to health care fraud
- Pennsylvania lawmakers push to find out causes of death for older adults in abuse or neglect cases
- Senate begins final push to expand Social Security benefits for millions of people
- Megan Fox set the record straight on her cosmetic surgeries. More stars should do the same
Ranking
- Jorge Ramos reveals his final day with 'Noticiero Univision': 'It's been quite a ride'
- Chrishell Stause & Paige DeSorbo Use These Teeth Whitening Strips: Save 35% During Amazon’s Big Sale
- This Garment Steamer Is Like a Magic Wand for Your Wardrobe and It’s Only $23 During the Amazon Big Sale
- Cameron Diaz and Benji Madden Welcome Baby No. 2
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Republican lawmaker says Kentucky’s newly passed shield bill protects IVF services
- Q&A: Extreme Heat, Severe Storms Among Key Climate Challenges for Maryland’s New Chief Resilience Officer
- Megan Fox set the record straight on her cosmetic surgeries. More stars should do the same
Recommendation
Sam Taylor
Why Mauricio Umansky Doesn't Want to Ask Kyle Richards About Morgan Wade
Kate, Princess of Wales, says she has cancer and is undergoing chemotherapy
Kansas City Chiefs trading star CB L'Jarius Sneed to Tennessee Titans, per report
2025 'Doomsday Clock': This is how close we are to self
See the moment a Florida police dog suddenly jumped off a 75-foot-bridge – but was saved by his leash
‘I will not feed a demon': YouTuber Ruby Franke’s child abuse case rooted in religious extremism
United Airlines says federal regulators will increase oversight of the company following issues