Sweden seeks to boost its military spending to over $2.45 billion between 2023 and 2024, putting the nation on track to reach NATO’s required defense expenditure target of 2 percent of gross domestic product. The European government recently unveiled its defense bill, which identifies the nation’s spending priorities for the next couple of years. Of the...
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NATO Increases Military Budget to $2.2B to Better Address Security Challenges
NATO has announced a 12 percent increase in its 2024 military spending, setting a budget of $2.2 billion to support defense operations across the globe. NATO member states also agreed to allocate $480.1 million for the alliance’s civil budget next year, providing for an 18.2 percent hike to cover personnel, operating costs and program expenditures...