Sweden: We are increasing the defense budget by $2.87 billion, says Ulf Kristersson

Sweden volition summation its defence fund by 26.6 cardinal kronor ($2.87 billion) for 2026, Prime Minister Ulf Kristersson announced. This summation marks the continuation of the country’s defence buildup strategy, bringing spending to 2.8% of GDP.

Kristersson described the summation arsenic the adjacent large measurement successful strengthening Sweden’s defense, highlighting its value for the country’s security.

“We person accrued the defence fund by 100 cardinal kronor since 2022. It is an unprecedented increase, unless we spell backmost to the darkest days of the Cold War,” the Swedish premier curate said astatine a property conference, stressing the value of Sweden’s strategical preparedness successful airy of planetary geopolitical developments.

The right-wing conjugation government, which holds a parliamentary majority, plans to taxable the fund connection connected September 22. The summation amounts to 18% compared to the 2025 fund and is expected to rise defence spending to 2.8% of GDP successful 2026, moving person to NATO’s caller people of 3.5% of GDP for halfway defence spending. Swedish authorities estimation spending volition scope 3.1% by 2028.

The further funds volition beryllium utilized to get caller aerial defence equipment, portion investments volition besides beryllium made successful warships and tactical transport aircraft. At the aforesaid time, accent volition beryllium placed connected raising salaries for officers and conscripts successful bid to fortify the equipped forces’ personnel.