Sweden will reach new NATO spending target of 5% of GDP, prime minister says

STOCKHOLM (Reuters) -Sweden will reach a new NATO spending target of 5% of the country’s GDP, Swedish Prime Minister Ulf Kristersson said on Friday during a joint press conference with NATO general secretary Mark Rutte in Stockholm.

“I’d like to confirm that Sweden will reach a new NATO spending target of 5% of GDP, where at least 3.5% of GDP will be allocated towards core defence requirements to fulfill NATO’s new capability target,” Kristersson said.

(Reporting by Greta Rosen Fondahn, writing by Louise Rasmussen, editing by Stine Jacobsen)