Denmark will boost its defence budget by 40.5 billion Danish crowns which is approximately ($5.9 billion) over the next five years to meet NATO targets and address major defence shortcomings, the prime minister, Mette Frederiksen said.
A founding member of the North Atlantic Treaty Organization, Denmark scaled back its military capabilities after the end of the Cold War in the early 1990s.
Russia, which is engaged in a war in Ukraine, plans to deploy troops and military equipment to the Finnish border, following the latter’s entry to NATO, President Vladimir Putin said on Wednesday.
Meanwhile, Denmark has come under pressure from Washington to bring military spending back up to a NATO target of 2% of GDP, from 1.4% last year.
The fresh defence funding comes in addition to 155 billion crowns Denmark pledged last year for the next 10 years.
While vast military aid for Ukraine, including a donation of F-16 fighter jets, has helped Denmark meet the NATO spending target, it has yet to invest in a major way in its own forces.
The new money will help Denmark meet NATO’s target by next year, Frederiksen said. Denmark had previously expected to reach the target by 2030.
Investments will cover land-based air defence systems and a heavy infantry brigade of up to 6,000 soldiers by 2028 which could be deployed as part of NATO’s emergency forces on high alert.
