Sweden Will Hit New NATO 5% Defense Spending Goal, Premier Says
Sweden will reach a planned new NATO defense spending target of 5% of GDP, Prime Minister Ulf Kristersson said, joining a string of countries ramping up commitments ahead of a key summit of alliance leaders.
Sweden, NATO's newest member, will formalize the target after this month's summit in The Hague, Kristersson told reporters on Friday, after his government earlier this year committed to spending 3.5% of its economic output on defense by 2030.
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