Sweden's Bold Defense Leap: A New Era of Military Investment

Sweden plans to raise defense spending to 3.5% of GDP by 2030, marking its largest military ramp-up since the Cold War. This move aligns with potential NATO targets and addresses European security needs amidst waning U.S. focus. Additionally, Sweden boosts its financial aid to Ukraine amidst rising geopolitical tensions.

In a significant shift in defense policy, Sweden aims to increase its defense spending to 3.5% of GDP by 2030, Prime Minister Ulf Kristersson announced on Wednesday. This increase surpasses earlier projections and represents Sweden's largest military investment since the Cold War.

The decision comes as NATO anticipates setting new spending goals of 3-4% of GDP for member states. Sweden is poised to meet these targets as part of its response to shifting U.S. military priorities and growing European security challenges.

Sweden also announced a substantial increase in aid to Ukraine, boosting the 2025 budget to 40 billion crowns. This financial support aims to assist Ukraine in its conflict with Russia, as Sweden seeks to bolster its defense capabilities and strategic partnerships.

(With inputs from agencies.)