Today’s news / Denmark to allocate 2.02% of GDP for defense in 2024
Defense Minister Troels Lund Poulsen (V) announced on Wednesday that Denmark is now meeting NATO's target of spending two percent of gross domestic product on defense. The specific figure for 2024 is 2.02 percent, according to an email from the Ministry of Defense to Ritzau (Archive photo). Photo: Claus Fisker/Ritzau Scanpix

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.