STOCKHOLM—Sweden’s defense needs to be increased significantly as Russia’s invasion of Ukraine has seen the security situation in Europe deteriorate, the government said on Thursday, vowing to raise military spending to 2 percent of GDP as soon as possible.
“Today, we present a new initiative with a clear message to the Swedish people and to the world around us. Sweden’s defense capability must be greatly strengthened,” Prime Minister Magdalena Andersson told a news conference.
Sweden’s military spending has increased in recent years following decades of cuts after the Cold War ended. The budget this year is 1.3 percent of gross domestic product (GDP), up from 0.9 percent in 2015, but far from around 3 percent in the early 1980s.
Finance Minister Mikael Damberg told the news conference that this year’s budget of about 70 billion Swedish crowns ($7.18 billion) was 42 billion short of 2 percent of GDP.
Russia says it is conducting a “special military operation” to demilitarize Ukraine.
NATO, which Sweden is not a member of but has close cooperation with, has a requirement of 2 percent defense spending for its members.
Sweden has a long history of neutrality and remaining outside military alliances but the war in Ukraine has shifted public opinion in favor of NATO membership.
Defense Minister Peter Hultqvist said it was too early to say how long it would take to get to 2 percent and that it depended on several factors, including how fast the armed forces could grow.
“We want to implement this in a systematic, realistic, and feasible way. We must get the most out of every crown we spend on defense,” he said.
Hultqvist also said Sweden would increase security cooperation with several partners, including NATO, but also bilaterally with Finland, Britain, and the United States.
