COPENHAGEN, Feb 19 (Reuters) - Denmark announced a substantial increase in its military budget totaling 50 billion crowns ($6.99 billion) for the upcoming years to address urgent shortcomings, specifically in surface-to-air missile defense systems, stated the Prime Minister on Wednesday.
Despite previous incremental defense allocations, Denmark has identified the need for additional funding on an accelerated timeline. Prime Minister Mette Frederiksen addressed the concerns, expressing the urgency and importance by stating, "Does the world look uneasy? Yes. ... Buy, buy, buy."
Procurements will bypass regular lengthy procedures, as Frederiksen emphasized the immediate necessity over the pursuit of optimal equipment, urging for swiftness in decision-making rather than perfection.
In light of Russia's perceived threat to Europe, Frederiksen urged all nations to bolster their defense budgets accordingly, aligning with the call for increased military capabilities from U.S. President Donald Trump.
Denmark's Defense Minister, Troels Lund Poulsen, outlined that the rise in military expenditure will elevate total spending to 3.2% in 2025, a significant increase from the current 1.37% registered in 2022 when Russia initiated its full-scale invasion of Ukraine.
The planned investments are projected to impact Denmark's fiscal balance, shifting from a surplus to a projected deficit of 0.8% of GDP by 2026, according to government estimates.
Although Denmark has been generous in providing military assistance to Ukraine, this aid has strained its own ground forces, who face shortages in equipment, ammunition, and personnel after years of downsizing. Consequently, Denmark's defense capabilities have weakened, with notable deficiencies in air defense and naval resources, as pointed out by military experts and officials.
($1 = 7.1496 Danish crowns)