Sweden to boost defence budget by $1.3 billion in 2025

NATO's newest member Sweden plans to raise its defence spending by 13 billion crowns ($1.3 billion) in the state budget for 2025 to a total of 138 billion.

Military spending will rise in 2025 to 2.4 per cent of GDP from 2.2 per cent this year and is projected to hit 2.6 per cent in 2028, Swedish Defence Minister Pål Jonson told a press conference, Caliber.Az reports via foreign media.

Moscow's conflict with Ukraine in 2022 sparked a historic policy U-turn in previously militarily non-aligned Sweden, which this year joined NATO and has vowed to further ramp up military budgets.

The centre-right government coalition, which relies on support from the far-right Sweden Democrats, is due to submit its budget bill for 2025 to parliament on September 19.