UPDATE 1-Swedish government to increase military spend by $2.9 bln in 2026 budget

The Swedish government will in its upcoming budget bill for 2026 increase funds for the armed forces by 26.6 billion crowns ($2.87 billion), Prime Minister Ulf Kristersson said on Monday.

"We are now taking the next big step in the equipping of the Swedish defence," he told a press conference. The right-wing government coalition is due to submit its budget bill to parliament on September 22.

($1 = 9.2819 Swedish crowns)