Current:Home > StocksOn the brink of joining NATO, Sweden seeks to boost its defense spending by 28% -EverVision Finance
On the brink of joining NATO, Sweden seeks to boost its defense spending by 28%
View
Date:2025-04-14 15:11:50
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! (3526)
Related
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Convicted former Russian mayor cuts jail time short by agreeing to fight in Ukraine
- A man is charged in a 2013 home invasion slaying and assault in suburban Philadelphia
- Taiwan condemns ‘fallacious’ Chinese comments on its election and awaits unofficial US visit
- Retirement planning: 3 crucial moves everyone should make before 2025
- Selena Gomez and Emily Blunt Poke Fun at Golden Globes Lip-Reading Drama
- Prada reconnects with the seasons for its 2024-25 fall-winter menswear collection
- Senior Pakistani politician meets reclusive Taliban supreme leader in Afghanistan
- Charges tied to China weigh on GM in Q4, but profit and revenue top expectations
- In Iowa, GOP presidential candidates concerned about impact of freezing temperatures on caucus turnout
Ranking
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- Indian Ocean island of Reunion braces for ‘very dangerous’ storm packing hurricane-strength winds
- Palestinian soccer team set for its first test at Asian Cup against three-time champion Iran
- Tisa Farrow, 1970s actress who became a nurse, dies at 72, sister Mia Farrow says
- A South Texas lawmaker’s 15
- How Wealthy Corporations Use Investment Agreements to Extract Millions From Developing Countries
- Horoscopes Today, January 12, 2024
- Louisiana’s special session kicks off Monday. Here’s a look at what may be discussed
Recommendation
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
Hurry Up & Shop Vince Camuto’s Shoe Sale With an Extra 50% Off Boots and Booties
Iowa’s winter blast could make an unrepresentative way of picking presidential nominees even more so
Colorado spoils Bronny James' first start with fierce comeback against USC
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
Indian Ocean island of Reunion braces for ‘very dangerous’ storm packing hurricane-strength winds
Convicted former Russian mayor cuts jail time short by agreeing to fight in Ukraine
He says he's not campaigning, so what is Joe Manchin doing in New Hampshire?