Sweden Plans Defense Budget Rise to 2.8% GDP by 2026

Sweden is significantly increasing its defense budget by 26.6 billion kronor ($2.87 billion) in 2026, raising military spending to 2.8% of GDP as part of a multi-year effort to strengthen its armed forces and align with NATO's new 3.5% spending target. This marks the most comprehensive defense reinforcement since the Cold War, with a total increase of 100 billion kronor since 2022, driven by regional security concerns following Russia's invasion of Ukraine. The additional funds will enhance military capabilities through procurement of air defense systems, rocket artillery, combat ships, and tactical transport planes, alongside salary increases for conscripts and officers. The right-wing government coalition, holding a parliamentary majority, enjoys broad political and public support for these measures, which also aim to boost Sweden’s defense industry and national preparedness. This sustained spending increase signals a new, permanent elevation of defense budgets in Europe and puts pressure on other NATO members to accelerate their own defense investments. Prime Minister Ulf Kristersson highlighted these steps as critical to equipping Sweden’s defense and reinforcing its role within NATO.