Today: 28 October 2025
29 June 2023
1 min read

Sweden boosts defence spending to meet NATO target

The Swedish government decided to seek NATO membership in May 2022…reports Asian Lite News

Sweden will increase its defence budget by 20 per cent next year, in order to meet the NATO target of 2 percent of the Gross Domestic Product (GDP), Minister for Defense Pal Jonson said.

The defence budget will be upped by 20 billion kronor ($1.86 billion) to reach 117 billion kronor in 2024, reports Xinhua news agency citing Swedish Television (SVT)  as saying.

For 2025, the government plans to increase the budget by a further 12 billion kronor, SVT reported.

“We will reach 2.1 per cent (of the GDP) according to NATO’s definition,” Jonson told SVT.

“This is absolutely necessary as the Armed Forces are facing higher costs due to increasing fuel costs and inflation,” the Minister added.

The Swedish government decided to seek NATO membership in May 2022.

So far, NATO member states Turkey and Hungary have yet to ratify Sweden as a member. 

ALSO READ-US Senators to press ahead with NATO Plus bill

Previous Story

150 protesters arrested after riots in France

Next Story

China unveils foreign relations law to counter western hegemony

Latest from -Top News

Gazans Struggle to Revive Life

Today, Gaza’s markets seem to awaken from beneath the ruins. Partially destroyed shops opened their doors amid streets littered with debris, while merchants attempt to arrange what remains of their goods on

GAZA AID: MSF raps Israel

Doctors Without Borders (MSF) says Israel Continues to Use Aid as a Weapon of War Against Gaza Strip…reports Asian Lite News Doctors Without Borders (MSF) said that despite the ceasefire agreement, Israel

Qatar Emir Meets Trump

HH the Amir welcomed HE the US President and his accompanying delegation, expressing his pleasure at meeting the President during his stopover in Qatar…reports Asian Lite News HH the Amir Sheikh Tamim

Abu Dhabi leads future of food innovation

Global Food Week 2025 cements Abu Dhabi’s leadership in food innovation, uniting 75 countries to showcase sustainable agriculture, cutting-edge technologies, and women-led enterprises driving future food security….reports Asian Lite News Global Food

UAE reshapes AI council

The newly reconstituted Council will be chaired by His Highness Sheikh Tahnoon bin Zayed Al Nahyan, with His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan serving as Vice-Chairman….reports Asian Lite
Go toTop

Don't Miss

Turkish parliament ratifies Sweden’s bid to join NATO

Hungarian Prime Minister Victor Orban said he had invited his

Putin warns tit for tat against aggressive West policy

Putin warned if the US and the NATO deploy missiles