ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

Sweden to spend 2% of GDP on defense by 2028: finance minister

Nordic country will boost defense outlays to meet NATO threshold

Swedish Finance Minister Mikael Damberg: "Many of the big NATO countries are also interested in Sweden and Finland joining, because it's not only about our security, it's also about NATO security."

DAVOS, Switzerland -- Sweden intends to increase defense spending to at least 2% of its gross domestic product by 2028, Swedish Finance Minister Mikael Damberg said in a May 25 interview with Nikkei. The country currently spends about 1.3% of its GDP on defense.

Sweden has applied to join NATO, which requests that member states spend at least 2% of GDP on defense. Sweden will increase its spending to that level over the next six years.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more