Sweden ups defense budget 40% due to regional tensions


Sweden’s parliament on Tuesday approved a 40 percent increase in the defense budget for 2021-2025 because of tensions in the Baltic Sea region in recent years, with officials saying Russia is the main reason for the move. The 349-member Riksdag assembly approved the largest hike in 70 years, bringing the annual defense budget by 2025 to 89 billion kronor (U.S. $11 billion). Defence Minister Peter Hultquist told the assembly before the series of votes that “it is the largest investment since the 1950s.”

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