Denmark is set to significantly increase its defense spending over the next two years, with a 70% hike planned in military outlays. The move comes as intelligence reports suggest Russia may start a war in Europe within five years, prompting NATO allies to bolster their militaries.
The Danish government has announced an additional $7 billion investment in defense, lifting its outlays to 3.2% of GDP from 2.4%. This increase is driven by concerns over US support for the trans-Atlantic alliance and continued Russian aggression.
Prime Minister Mette Frederiksen signaled urgency in her procurement plans, emphasizing the need for speed and efficiency in acquiring cutting-edge equipment. The increased spending will enable Denmark to buy advanced weapons and send more equipment to Ukraine.
The move has been echoed by NATO countries, with several members falling short of the 2% defense spending target. President Donald Trump has called for an increase in this goal to up to 5%. European defense contractors have seen a surge in orders since Trump’s election, outperforming US giants like Lockheed Martin and Northrop Grumman.
A recent intelligence report from Denmark warns that Russia may launch a local war against a bordering country within six months or a regional war in the Baltics within two years. The report also notes that Russia is likely to use military force if it perceives NATO as militarily weakened or politically divided.
This increased spending comes amid rising tensions between Russia and Europe, with US President Trump pushing for a swift end to Russia’s three-year-old war on Ukraine.
Source: https://www.yahoo.com/news/nato-ally-buy-buy-buy-174149642.html