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Sunday, April 19, 2015

Sweden raises defence budget amid Russia concerns

Il-20M CootSweden will raise defence spending by 10.2 billion kronor (1.09 billion euros, $1.18 billion) for the period 2016 to 2020, the government said Friday amid concerns over Russia's military resurgence, AFP reports.

"The agreement sends a signal, internationally, that Sweden is reacting to the security situation in the world, that Sweden is a guarantor for peace and stability in northern Europe and that the defence of Sweden's territory is in focus," Defence Minister Peter Hultqvist told the TT news agency.

Sweden's left-wing minority government, made up of the Social Democrats and the Greens, had announced a 6.2 billion kronor increase over five years on March 12.

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