Sweden will spend 2% of its gross domestic product on defense by 2026 as the country seeks to increase investment in its military capabilities, Foreign Minister Tobias Billstrom said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 11th May, 2023) Sweden will spend 2% of its gross domestic product on defense by 2026 as the country seeks to increase investment in its military capabilities, Foreign Minister Tobias Billstrom said on Thursday.
"At natural level we are reinforcing our total defense, which comprises of Swedish armed forces, the civilian defense and our industrial base. And we will reach NATO's defense investment pledge of 2% of GDP by 2026," Billstrom said during the Pre-NATO Summit held by the Atlantic Council in Stockholm.
Once Sweden becomes a NATO member, it will contribute to the alliance's "deterrence and defense agenda," according to the Swedish minister.
"With Sweden's strategically important geography, our territory at land, at sea and in the air will shore up NATO's deterrence and defense in Northern Europe, thus, strengthening the alliance as a whole," Billstrom stated.
The Swedish minister also staid that Finland's NATO membership is important for the bloc and for Sweden itself, adding, however, that Helsinki's accession to the alliance would not be complete without Sweden.
"It (Finland's accession to NATO) is also great significance for Sweden as we are close to Finland in so many respects. And I can only echo what (Finnish) President (Sauli) Niinisto and (Foreign Minister) Pekka (Haavisto) have said repeatedly. Finland's accession is not complete until Sweden also joins NATO," the top Swedish diplomat stated.
Sweden, together with Finland, submitted its NATO bid in May 2022, several months after Russia launched its military operation in Ukraine. Finland's application has been ratified by all 30 members of the alliance. Sweden's bid is still pending approval by Hungary and Turkey.
