The Danish government has announced plans to bolster its military by setting up a 50 billion-kroner (£5.5 billion) fund that it says will raise the country’s defence spending to more than 3% of gross domestic product (GDP) this year and next.
The proposed fund is meant to accelerate the build-up of the Nato member’s combat capability and could also help with additional military support for Ukraine.
Prime Minister Mette Frederiksen said the new spending level will be the highest in more than half a century, Danish broadcaster DR reported. The country spent 2.4% of GDP on defence last year, above the existing 2% target for Nato members.
“The current security situation makes it abundantly clear that we need to invest in our defence at a much faster pace than before,” foreign minister Lars Lokke Rasmussen said in a statement.
“All European countries must take greater responsibility for security in Europe … This sends a clear signal to all our allies that we understand the security challenges – and that we are ready to act now.”
The government’s statement pointed to an assessment released last week by the Danish Defence Intelligence Service that, if the war in Ukraine ends or is frozen, Russia would be able to pose a credible threat to one or more Nato countries in the Baltic Sea region within about two years if Nato does not rearm at the same pace and the United States does not get involved.
Last month, Lithuania’s president said his country had decided to raise its spending on defence to between 5% and 6% of GDP starting in 2026 because of the threat of Russian aggression in the region.
That made it the first Nato nation to vow to reach a 5% goal called for by US President Donald Trump.
On Tuesday, Latvia’s government agreed that that country’s defence spending should be increased to 4% of GDP next year and continue to move toward 5%.
Sourse: breakingnews.ie
