Denmark to spend additional $17 billion on defense by 2033
20 February 17:46
Denmark will increase its defense spending to more than 3% of GDP as the country seeks to counter escalating security threats from Russia.
This was reported by Bloomberg, Komersant ukrainskyi reports.
Defense Minister Troels Lund Poulsen said at a briefing that Denmark would spend an additional 120 billion kroner ($17 billion) on defense by 2033. About 50 billion kroner of these funds will be directed to the Danish armed forces through the so-called “acceleration fund” this year and next.
According to Poulsen, Denmark’s new fund, which will be financed by easing fiscal policy and higher-than-expected budget revenues, will bring the country’s military spending to 3.2% of GDP this year.
Denmark will also speed up arms purchases by abandoning the usual tender procedures and allowing the head of the country’s armed forces to decide how to spend the additional funding.
“We have one message for the head of the defense ministry: buy, buy, buy,” Prime Minister Mette Frederiksen said at the same briefing.
“Buy what can help strengthen our defense now and thereby strengthen our deterrence. If we can’t get the best equipment, then buy the second best,” she added.
Frederiksen, after meeting with European leaders in Paris on Monday, warned that the ceasefire in Ukraine “may sound better than it is” and that it risks putting Europe “in an even more dangerous situation.”
Frederiksen did not rule out the introduction of a military tax to finance the rising military spending and noted that all Danes would feel the higher costs.
It is noted that this plan appeared after US President Donald Trump appealed to European members of the NATO bloc to increase defense spending, while the US and Russian delegations met and discussed the end of the war in Ukraine.
Denmark has expressed concern that a hasty ceasefire could strengthen Putin’s position while risking encouraging the Russian president to confront NATO if he sees the bloc as weakened or divided.
