Current:Home > FinanceOn the brink of joining NATO, Sweden seeks to boost its defense spending by 28% -DollarDynamic
On the brink of joining NATO, Sweden seeks to boost its defense spending by 28%
View
Date:2025-04-17 07:19:56
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! (58361)
Related
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Ulta Fall Haul Sale: 46 Celebrity Beauty Favorites from Kyle Richards & More—Starting at $3
- Why Paige DeSorbo Wasn't by Boyfriend Craig Conover's Side at 2024 People's Choice Country Awards
- Wyoming Lags in Clean Energy Jobs, According to New Report
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Baltimore longshoremen sue owner and manager of ship that caused the Key Bridge collapse
- FBI agent says 2 officers accepted accountability in fatal beating of Tyre Nichols
- Lana Del Rey Marries Alligator Guide Jeremy Dufrene in Louisiana Swamp Wedding Ceremony
- What do we know about the mysterious drones reported flying over New Jersey?
- A New England treasure hunt has a prize worth over $25,000: Here's how to join
Ranking
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Lady Gaga uncorks big band classics, her finest moment yet on 'Joker 2' album 'Harlequin'
- Madonna’s Stepmother Joan Ciccone Dead at 81 After Cancer Battle
- Macklemore clarifies remark made at pro-Palestine concert in Seattle: 'Sometimes I slip up'
- Trump's 'stop
- Halsey shares she was recently hospitalized for a seizure: 'Very scary'
- Dodgers win NL West for 11th time in 12 seasons
- Joe Manganiello and Girlfriend Caitlin O'Connor Celebrate Anniversary With Cute Family Member
Recommendation
Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
James Corden Admits He Tried Ozempic for Weight Loss and Shares His Results
The Best New Beauty Products September 2024: Game-Changing Hair Identifier Spray & $3 Items You Need Now
Prosecutors file sealed brief detailing allegations against Trump in election interference case
Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
Couple reportedly tried to sell their baby for $1,000 and beer, Arkansas deputies say
NFL bold predictions: Which players, teams will surprise most in Week 4?
Brett Favre Parkinson's diagnosis potentially due to head trauma, concussions