The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

Political Economy

Swedish government wants to reduce defence spending by billions

Thursday, 14 March 2013
The Swedish government wants to reduce its defence spending by half a billion Swedish Krona by cutting down on permanent staff.

According to radio Sweden, this comes from an announcement made by the Swedish armed forces, which it stress that it needed more money from 2015 onwards and would have wanted the Swedish government to increase its spending in that area.

Two weeks ago, the Swedish Armed Forces submitted a comprehensive response to the government on how the defence economic situation will look like in the coming years.

The Swedish Armed Forces believes that it needs four billion krona more per year if it is to meet the demand of the politicians. Among other things, when a number of weapons systems which were previously postponed would now be purchased, such as long range anti-aircraft missiles, as well as increase staffing, it is expected that costs of the arm forces will increase even without the use of the various weapon packets.

According to the radio Sweden thus, the government, apparently looking at the current economic situation and how things look for the future, want to slim its military in the future by cutting down officers. It would want instead to expand on reserve officers.

In total, this would mean the cost will gradually reduce to half a billion from 2019 and then remain at that level. That's about the cost of 800-900 employees in the defence sector.

It remain to be seen the effect such a change (s) would have on the military's operations though already there are complaints among military forces that shortages of staff is affecting its tasks.
by Scancomark.com Team

What do you think about this article? Suggest correction or join our network!