
Denmark to allocate 2.02% of GDP for defense in 2024
Denmark is expected to spend 2.02% of its Gross Domestic Product (GDP) on defense spending in 2024, according to the country’s Ministry of Defence. This aligns with NATO’s target for members to spend at least 2% of GDP on defense. Despite some NATO countries’ criticism that aid to Ukraine should not be included in the 2% benchmark, suggesting it skews fixed defense expenditure, Danish Defense Minister Troels Lund Poulsen has asserted that NATO recognizes Denmark’s calculation, confirming it meets the 2% threshold from 2023 onwards. Total European NATO member investment in defense for the year is projected to hit a record $380 billion, as reported by NATO Secretary-General Jens Stoltenberg—a sixfold increase since 2014. The boost in defense spending arises amidst the ongoing war in Ukraine and concerns over potential future US commitment to NATO.