Denmark to triple defence budget over next 10 years

Denmark’s Government has announced  that it would triple its defence budget over the next 10 years in the wake of Russia’s invasion of Ukraine.

Denmark intends to reach the NATO goal of spending two percent (2%) of gross domestic product (GDP) on the military by 2030. However, it is to be noted that till date this target has only be reached by few of the alliance’s 30 members.

As of now, Denmark spends 1.38 percent (1.38%) of its GDP on defence.

The Danish Government wants to significantly strengthen Danish defence and security with approximately 143 billion kroner ($20.5 billion) over the next 10 years.

Notably, this announcement came a day after Denmark said it was committing 17.9 billion kroner, in addition to another 7.5 billion pledged in March, to a Ukraine aid fund which is mainly dedicated to military assistance.