Sweden Expects to Hit NATO's 5% Defense Spending Target in 2030 -- Market Talk

Dow Jones05-22

0837 GMT - Sweden expects to reach NATO's defense spending target of 5% of GDP in 2030. A NATO summit last year saw allies pledge to increase defense spending to 5% of GDP by 2035, from a previous guidance of 2%. The new 5% target consists of 3.5% of GDP allocated to core military spending and a further 1.5% on broader defense-related areas like civil preparedness, cybersecurity and critical infrastructure protection. NATO foreign ministers are currently meeting in Helsingborg, Sweden. Speaking at the meeting, Swedish Prime Minister Ulf Kristersson said the Scandinavian country is in the process of undertaking the most significant upgrade of its total defense since the Cold War. "We anticipate that we will reach NATO's 5% target as early as 2030," he said. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

May 22, 2026 04:39 ET (08:39 GMT)

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Speaking at the meeting, Swedish Prime Minister Ulf Kristersson said the Scandinavian country is in the process of undertaking the most significant upgrade of its total defense since the Cold War. \"We anticipate that we will reach NATO's 5% target as early as 2030,\" he said. 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