This month, Sweden announced the largest R&D investment in its history. The Swedish government’s 2009 budget commits SEK 2.4 billion ($364 million) in 2009 to research funding. Such funding will reach SEK 5 billion in 2012. The funding includes the elimination of the value added tax on education. Medicine, technology and the climate will receive the largest gains in funding. Universities will receive higher direct funding, while research councils and the Swedish Agency for Innovation will also receive funding increases.

Source: Swedish Government