Sweden will increase defense spending by 5 billion Krona ($500 million) a year from 2022 through 2025. The additional budget, announced at the end of August, will be funded through a bank tax, officials said. Although the form of that tax has yet to be defined, the extra cash will help support the expansion of the country’s armed forces in the face of increased tensions with Russia. Sweden’s defense spending as a proportion of gross domestic product will increase from 1% to ...

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