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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
livemint.com / 1 year ago
One of the world’s happiest countries is increasing its military budget by billions, its largest since the Cold War. Are we headed for World War III? Here’s what we know
Why is Sweden boosting its defense spending to 3.5% of GDP by 2030?
Prime Minister Ulf Kristersson didn’t mince words when he addressed the nation. «Sweden and Europe are facing a completely new security environment,» he declared on March 26, explaining the urgent need for a defense upgrade. As the geopolitical landscape becomes more unpredictable — especially with the ongoing conflict in Ukraine — Sweden has decided to take no chances.
To meet this new reality, Sweden will increase its defense budget to 3.5% of GDP by 2030. This translates into an unprecedented investment of 300 billion SEK (€27 billion), a loan-financed initiative designed to modernize the country’s military and safeguard its sovereignty.
What does Sweden’s €27 Billion military rearmament plan include?
The Swedish rearmament plan is not just about increasing numbers — it's about preparing for future warfare. The plan, shaped in collaboration with the Sweden Democrats, a far-right political party, encompasses a diverse range of defense initiatives.
Here’s a breakdown of what’s included:
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- Air Defense, Drones, and Rocket Artillery: Sweden will spend SEK 25 billion (€2.31 billion) between 2025 and 2028 to acquire state-of-the-art air defense systems, rocket artillery, and advanced drone technology.
- Hybrid Threat Defense Package: An additional SEK 96 million (€8.86 million) will be allocated in 2025 to bolster Sweden’s defense against hybrid threats, including maritime and cyber attacks. This funding will enhance the capabilities of the Swedish Coast Guard, the Civil Contingencies Agency, and the Psychological Defence Agency.
How much more aid is Sweden sending to Ukraine in 2025?
Sweden’s commitment to Ukraine is not wavering — in
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21.05 / 09:47
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