XM does not provide services to residents of the United States of America.

Sweden's armed forces to grow to 115,000 by 2030, government says



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>Sweden's armed forces to grow to 115,000 by 2030, government says</title></head><body>

STOCKHOLM, Oct 15 (Reuters) -Sweden will bolster the size of its armed forces by some 27,000 men and women by 2030 to around 115,000 people, including professional soldiers and conscripts, as the country ramps up defence spending, the government said on Tuesday.

The centre-right coalition last month said it would spend an additional 170 billion Swedish crowns ($16.41 billion) on top the normal annual budget over the coming five years, taking defence spending to 2.6% of GDP in 2028, up from 2.2% this year.

Defence Minister Pal Jonson said the bill would help build better endurance, and that it needed to happen quickly for NATO's newest member.

"We must be able to respond more strongly and effectively to the changes taking place in our surrounding world, above all Russia's full-scale invasion of Ukraine," he told a news conference.

The government said in September it would hike defence spending by 10% to 138 billion crowns next year, equal to 2.4% of GDP.

The Navy will have its five Visby class corvettes upgraded and fitted with air defence systems, and will also start the procurement of three bigger Lulea Class corvettes.

The Air Force will get three more Globaleye surveillance planes and newer version of the JAS Gripen fighter jets, as well as Black Hawk helicopters.

The Army will add more tanks and armoured vehicles, more drones and additional Archer air-defence systems, the government said.


($1 = 10.3623 Swedish crowns)



Reporting by Johan Ahlander, editing by Terje Solsvik

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.