Despite committing vast amounts of money to rearmament and support for Ukraine, Denmark is reported to be running out of funding for its ongoing efforts to raise defence spending.
The Danish parliament has spent huge sums on defence in recent years, but funding for rearmament and security are beginning to run out according to a Defence Ministry statement provided to news wire Ritzau.
Some nine billion kroner is left from a budget of 365 billion kroner which the government has reserved for defence spending for the period 2024-2033.
“Of the total framework allocated to strengthening defence and security, the government and the parties to the defence agreement have so far earmarked approximately 356 billion kroner,” the email to Ritzau stated.
Denmark began accelerating its defence spending after Russia invaded Ukraine in February 2022.
Despite the heavy spending on security since then, there is some way to go according to Peter Viggo Jakobsen, Associate Professor at the Royal Danish Defence College.
“I don’t even think we’re on pace. In fact, I don’t think we’re where we need to be yet if we are to handle the tasks ahead of us. We’re still chasing a train that has already left the platform,” Jakobsen told Ritzau.
Although Denmark has previously been at war in Afghanistan and Iraq, rearming in response to Russia presents a different challenge, he said.
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“You have to procure equipment for a type of war that you did not believe was likely, and that is simply incredibly expensive,” he said.
“Then there is the new element of drones, where we have not yet really purchased anything because we have not figured out how to approach this new challenge,” the associate professor added.
More defence spending is expected to be allocated as part of a new government financial plan up to 2035, which is due to be presented soon.
Denmark is set to spend 3.5 per cent of GDP on defence and security from 2023 as agreed at last year’s NATO summit in The Hague.