Sweden To Boost Defence Spending $30 Bn Over A Decade

The added spending was because Sweden faces a 'completely new security situation,' Prime Minister Ulf Kristersson said (Credit: AFP)

Sweden will increase defence spending by about 300 billion kronor ($30 billion) over the next decade, the prime minister said Wednesday, calling it the nation's biggest rearmament push since the Cold War.

The Nordic country drastically slashed defence spending after the Cold War ended and in the early 2000s, but reversed course following Moscow's 2014 annexation of Crimea.