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Sweden Boosts Defense Budget to 3.5% by 2030

3/26/2025

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Summary

Story summary

Sweden is set to boost its defense budget to 3.5% of GDP by 2030, a move driven by Prime Minister Ulf Kristersson to meet NATO goals and strengthen European security. This ambitious rearmament plan, costing 300 billion SEK ($30 billion), comes as U.S. priorities shift, with current spending at 2.4% and a target of 2.6% by 2028.

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Story summary

Sweden is set to boost its defense budget to 3.5% of GDP by 2030, a move driven by Prime Minister Ulf Kristersson to meet NATO goals and strengthen European security. This ambitious rearmament plan, costing 300 billion SEK ($30 billion), comes as U.S. priorities shift, with current spending at 2.4% and a target of 2.6% by 2028.