Denmark Designates 50 Billion Kroner for Increased Defense Expenditure: Spend, Spend, Spend
Pumping Up the Military: €7 Billion Extra for Defense Over Two Years as Denmark Braces Against Russia
🗣️ Mette Frederiksen spilled the beans at a press conference yesterday, announcing that Denmark is shelling out an extra 50 billion Danish kroner ($7 billion) to beef up its military defenses.
"It's 'buy, buy, buy'. Buy what's gonna make our defense stronger and our deterrence more effective pronto," declared the Prime Minister.
She went on to explain that the first 25 billion kroner will be doled out this year, with the remaining 25 billion stowed away for 2026.
This whopping wedge of cash will be funneled into an "acceleration fund" for rearmament, as Denmark steps up its game in the face of an alleged escalating threat from Russia.The Russians have been causing a ripple of concern since they invaded Ukraine's Crimean Peninsula in 2014 and packed a punch three years ago on February 24th when they marched into neighboring Ukraine.
Frederiksen was unequivocal in her words: "We're up against a belligerent Russia that's rearming, and who knows what their next move might be."
She added, "We're in the most dangerous spot we've been in for a long-ass time thanks to Russia."
With this newfound financing, the Danish military is set to expand by 5,000 soldiers, along with thousands of civilian workers, with the aim to be battle-ready and oh-so-sexy on strategic island positions like Bornholm.
Denmark is also stepping up its naval game, with a fresh fleet of marine environment and mine-laying vessels on its way, as well as 21 vessels for the Danish Home Guard, at a rumored cost of around 4 billion kroner.
What's more, Denmark is ready to support its allies by throwing €830 million ($935 million) behind Ukrainian defense capabilities, with purchases set to include everything from ammunition to sophisticated air defense systems and long-range drones.
Now, if Denmark's military top brass wants to grab a few choice goodies, they can simply beg the acting head of the military, Michael Hyldgaard, to buy it for 'em. "If we can't get the absolute best, buy the next-best deal," Frederiksen said, pointing her finger at him.
Although this spending spree will no doubt shake up Denmark's economy, it's all going down as part of a broader loosening of fiscal policy aimed at funding this military boost as well as potential tax cuts. The cabinet expects Denmark's budget leeway to increase by 21.25 billion kroner by 2030, which will cover the defense spending increase.
Russia's not exactly thrilled about this, with spokesperson Dmitry Peskov calling Denmark's deployment of unarmed troops to Ukraine to train in drone warfare "provocative" and "harmful." But Denmark's got its eyes on the big screen and its guard up high.
- In light of the escalating threat from Russia, Denmark is pouring 50 billion Danish kroner into an "acceleration fund" for rearmament, as part of its strategy to bolster defense and deterrence.
- In the realm of general news, the Prime Minister of Denmark, Mette Frederiksen, has announced that Denmark will support Ukraine by providing €830 million ($935 million) to upgrade Ukrainian defense capabilities, including purchasing ammunition, sophisticated air defense systems, and long-range drones.
- As Russia's actions in war-and-conflicts regions like Ukraine have caused concern, Denmark is also investing in its naval capabilities, with plans to acquire a fresh fleet of marine environment and mine-laying vessels, as well as 21 vessels for the Danish Home Guard, at an estimated cost of around 4 billion kroner.
