Sweden plans to increase its annual defence spending over the next 10 years, citing the crisis in Ukraine and an "unsettling" development in Russia.
The government on Tuesday said that spending would rise gradually until 2024, when the annual defence budget increase would be around 5.5 billion kronor (604 million euros, $835 million), more than in previous estimates, according to AFP. The Swedish defence budget for this year was 47 billion kronor.
"The recent past has been characterised by a deeply unsettling development in and around Ukraine," the government said in a statement. "Russia has occupied parts of a sovereign state."
The focus of the increase would be on the Baltic Sea and the Swedish island of Gotland, located in the region, the report said.
Sweden, which is not a NATO member, wants to expand its fleet of fighter jets from 60 to 70 Jas 39 E, buy two new submarines to reach a total of five and refurbish other ships.
The government said that the growing material spending would be financed by redistributing the defence budget and also by cutting cooperation with Russia in environmental and nuclear energy issues, among other measures.
The Italian defense ministry is considering cutting its F-35 orders with calls to further reduce the number of aircraft on order. Italy has become the first US ally to call out the flaws on the Lockheed F-35 fighter aircraft in particular the General Confederation of Italian Workers (CGIL) thinks “it essential to rethink the purchase of the F-35
China, in the midst of a massive military modernization, will increase it its annual defense budget to $132 billion, a 12.2 percent increase from the previous year
India will not sign a $20 billion deal to acquire fighter jets for the Indian Air Force till the next fiscal year, Defence Minister A.K
Boeing will end production of its C-17 Globemaster III military transport aircraft in 2015 amid widespread budget cuts and sequestration, a senior executive said on the sidelines of the Dubai Air Show on Monday. Calling the C-17 closure a very difficult but necessary decision, Dennis Muilenburg, president and chief executive of Boeing Defense, Space & Security, said, “Our customers around the world face very tough budget environments
The continued decline in U.S
The US military delivered three lightweight, counter-mortar radar systems yesterday to Ukrainian armed forces, Pentagon spokesman Army Col. Steve Warren told reporters today
Ukraine has announced it will host the "Arms and Security-2015" show on September 22nd-25th 2015 in the territory of International Exhibition Center (15 Brovarsky Ave., Kyiv, Ukraine)
Eastern European nations such as Romania, Poland and Bulgaria have increased arms imports, mostly from the US to counter possible Russian aggression. The Ukraine crisis has left Russias neighbors vulnerable and have all announced plans to buy aircraft, electronic warfare systems and missiles from Western countries
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