For the Swedish Defense Forces, nearly 28 billion additional funding Brief news

The Swedish government and the Swedish Democrats have agreed that the government will provide the country’s Defense Forces by nearly EUR 28 billion for the next ten years.

– This is the biggest armament since the Cold War, the Swedish Prime Minister described Ulf Kristersson at a press conference.

Kristersson said that increasing defense expenditure is financed by loans.

With additional funding, Sweden’s defense expenditure rises to 3.5 % of the country’s GDP.

Sweden’s current defense expenditure is 2.4 % of GDP, whereas NATO Member States are now expected to use two percent of GDP for defense expenditure.

Source: AFP, Reuters