FAMAGUSTA GAZETTE – Sweden plans to boost its defense spending by 300 billion Swedish kronor ($29.8 billion) through 2035, aiming to reach 3.5% of GDP by 2030.
Prime Minister Ulf Kristersson described the initiative as “the largest rearmament since the Cold War,” with funding secured through loans.
The government emphasized the move as a key strategy to strengthen Sweden’s and Europe’s defense capabilities, including expanded financial support for Ukraine, investment in defense equipment, hybrid threat responses, and the Coast Guard.
Kristersson noted the target aligns with NATO’s anticipated defense spending goals. NATO data shows Sweden’s defense expenditure rose from 2.14% of GDP last year to an estimated 2.4% in 2025.