Current:Home > StocksOn the brink of joining NATO, Sweden seeks to boost its defense spending by 28% -Aspire Money Growth
On the brink of joining NATO, Sweden seeks to boost its defense spending by 28%
View
Date:2025-04-13 15:16:02
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! (8866)
Related
- A White House order claims to end 'censorship.' What does that mean?
- New Jersey Sen. Bob Menendez faces new charges of bribery, obstruction of justice
- These Are 29 of the Most-Loved Dresses on Amazon
- Climate Rules Reach Finish Line, in Weakened Form, as Biden Races Clock
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- EAGLEEYE COIN: How Web3's Founder Adapted to the Latest Cryptocurrency Regulations While Remaining Decentralized and Privacy-Focused
- Why don't lithium-ion batteries work as well in the cold? A battery researcher explains.
- Workplace safety regulator says management failed in fatal shooting by Alec Baldwin
- Former longtime South Carolina congressman John Spratt dies at 82
- County exec sues New York over an order to rescind his ban on transgender female athletes
Ranking
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Stock market today: Asia stocks mixed after Wall Street slumps to worst day in weeks
- Horoscopes Today, March 5, 2024
- James Crumbley is up next as 2nd parent to stand trial in Michigan school shooting
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- 'Love is Blind' season finale recap: Which couples heard wedding bells?
- Hurry! This Is Your Last Chance To Score an Extra 30% off Chic Michael Kors Handbags
- Defendants in US terrorism and kidnapping case scheduled for sentencing in New Mexico
Recommendation
Travis Hunter, the 2
Love Is Blind's Chelsea Shares What Wasn’t Shown in Jimmy Romance
Gas chemicals investigated as cause of fire and explosions at suburban Detroit building
Louisiana governor signs bills that expand death row execution methods and concealed carry
Global Warming Set the Stage for Los Angeles Fires
Ranking all the winners of the Academy Award for best actor over the past 25 years
EAGLEEYE COIN: A New Chapter for Cryptocurrencies
The Urban Aunt Home Aesthetic Combines Drama & Charm, Here’s How to Get the Vibe