Denmark plans to increase defense spending by $7B

By Ebad Ahmed

COPENHAGEN, Denmark (AA) – Denmark announced Wednesday that it plans to bolster its defense spending and raise it above 3% of GDP both this and next year.

The government said it will set up a fund amounting to 50 billion krone ($7 billion) for increasing the country’s combat capabilities.

The money will supplement the nearly 200 billion krone ($28 billion) already allocated through 2033 under a national defense agreement.

Prime Minister Mette Frederiksen announced the new funding at a press conference, emphasizing the urgent need for rapid military procurement.

"Buy, buy, buy. There is only one thing that counts now, and that is speed, because the reality is that we are behind. We must set aside procedures created with the best intentions but suited for another time," said Frederiksen.

Citing the growing threat posed by Russia, she warned: "We are facing an aggressive Russia that is rearming and perhaps preparing to attack others. We are in the most dangerous situation in many years."

Defense Minister Troels Lund Poulsen and Foreign Minister Lars Lokke Rasmussen also attended the briefing.

The Danish government is also granting expanded powers to the Chief of Defense, Gen. Michael Wiggers Hyldgaard, to accelerate procurement.

"Buy what can contribute to a stronger defense and deterrence now. If the best equipment is unavailable, buy the next best," Frederiksen said.

The government will reveal the precise extent of these new powers Thursday.

Poulsen acknowledged that increased speed could lead to errors but emphasized the necessity of immediate action.

"I'd rather make mistakes and rearm than sit idle," he said.

Meanwhile, the Ministry of Finance announced an upward adjustment of 21.25 billion krone ($2.97 billion) to Denmark’s budget leeway in 2030, providing additional funds for defense investments.