Current:Home > FinanceOn the brink of joining NATO, Sweden seeks to boost its defense spending by 28% -FinTechWorld
On the brink of joining NATO, Sweden seeks to boost its defense spending by 28%
View
Date:2025-04-14 20:35:10
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! (82136)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- 2 officers, 1 first responder shot and killed at the scene of a domestic call in Minnesota
- 2024 BAFTA Film Awards: See Every Star on the Red Carpet
- Trump $354 million fraud verdict includes New York business ban for 3 years. Here's what to know.
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- LeBron James indicates at NBA All-Star Game intention to remain with Los Angeles Lakers
- Students and parents are frustrated by delays in hearing about federal financial aid for college
- Funerals held in Georgia for 2 U.S. soldiers killed in Jordan drone attack
- 'We're reborn!' Gazans express joy at returning home to north
- People's Choice Awards 2024 Winners: See the Complete List
Ranking
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Kelly Ripa's Nutritionist Breaks Down What She Eats in a Typical Day
- Prince William attends the BAFTAs solo as Princess Kate continues recovery from surgery
- Taylor Swift posts video of Travis Kelce and her parents accidentally going clubbing after 2024 Super Bowl
- Average rate on 30
- Prince William attends the BAFTAs solo as Princess Kate continues recovery from surgery
- NBA All-Star Game highlights: East dazzles in win over West as Damian Lillard wins MVP
- Get Long, Luxurious Lashes with These Top-Rated Falsies, Mascaras, Serums & More
Recommendation
See you latte: Starbucks plans to cut 30% of its menu
Loay Elbasyouni gave up hope many times that his parents would escape Gaza City. Here's how he saved them.
New Jersey Devils dress as Sopranos, Philadelphia Flyers as Rocky for Stadium Series game
BIG unveil new renderings for NYC Freedom Plaza project possibly coming to Midtown
NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
E. coli outbreak: Raw cheese linked to illnesses in 4 states, FDA, CDC investigation finds
Marco Troper, son of former YouTube CEO, found dead at UC Berkeley: 'We are all devastated'
'True Detective: Night Country' tweaks the formula with great chemistry