Denmark to boost defence budget, with spending to surpass Nato’s 2 per cent target

Its total defence budget, including aid to Ukraine, will amount to 2.4 per cent of Danish GDP this year and in 2025

The increased funding, which will run from 2024 to 2028, will be used to boost Denmark’s military capacity and provide aid to Ukraine

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(From left) Minister of Defense Troels Lund Poulsen, Prime Minister Mette Frederiksen and Foreign Minister Lars Loekke Rasmussen give a press conference on strengthening the army. Photo: AFP

Published: 6:43pm, 13 Mar 2024

Denmark on Wednesday said it would raise its defence spending by US$5.9 billion over five years to boost its military capacity, pushing it past Nato’s spending target from this year.

Russia’s invasion of Ukrainian Crimea in 2014 served as a wake-up call for European countries and saw Nato increase its minimum defence spending requirements from less than 1.5 per cent to two per cent of gross domestic product (GDP).

Prime Minister Mette Frederiksen said the country’s defence spending would amount to 2.4 per cent of GDP this year and next year, above Nato’s target for member states.

Denmark is one of Nato’s founding members.

Sweden’s flag is raised at Nato headquarters in Brussels, at a ceremony for its accession to the bloc. Photo: Xinhua

“The total defence budget, including aid to Ukraine, will amount to 2.4 per cent of Danish GDP this year and in 2025,” Frederiksen told reporters.

The increased funding, which will run from 2024 to 2028, will be used to boost Denmark’s military capacity and provide aid to Ukraine.