Sweden Will Be Boosting Its Military Spending By 30%

The Swedish government has announced that it will be increasing its military spending by 30%, another sign of the growing militarist consciousness that is rising up in Europe. As we read in Breaking Defense:

The government of Sweden plans to increase its defense spending by nearly 30 percent in 2024, according to newly released public figures, putting the Scandinavian nation on track to meet the spending goals for NATO members next year even as Stockholm waits in the wings to join the alliance.

Sweden has long made public its plans to raise defense spending significantly ahead of joining NATO, and the latest announcement includes an additional SEK 700 million ($63 million USD) on top of figures previously disclosed.

Under the budget proposal presented by the Swedish Ministry of Defense Monday, there will be an overall increase of SEK 27 billion ($2.4 billion USD) from 2023 to 2024 — a 28 percent jump — adding up to just under SEK 120 billion ($10.8 billion USD) in defense appropriations for next year. The defense budget will rise a few billion kroner higher in 2025 and 2026 as well, the ministry said in a statement posted online.

“This means that appropriations have doubled since 2020 and that Sweden will already reach the defence expenditure target of two percent of GDP according to NATO’s definition in 2024,” the MoD said.

In remarks clearly referring to the Russian invasion of Ukraine, the MoD said Sweden is “facing the most serious security situation since the end of the Second World War. This requires defence forces that are ready to protect Swedish territory.

“Continuous preparedness adaptations and exercises, Sweden’s support to Ukraine and preparations for NATO membership must all continue while Sweden enhances its own capacity and war organisation in accordance with the bill Total Defence 2021–2025,” the statement said.