Today’s news / Norway increases military fund to NOK 385 billion
Norway's military is receiving 385 billion kroner over 12 years. This is a historic increase in military spending, and it includes a strengthening of all branches in the armed forces, says the Norwegian Prime Minister, Jonas Gahr Støre. (Archive photo). Photo: Sameer Al-Doumy/Ritzau Scanpix

Norway increases military fund to NOK 385 billion

Norway plans to boost its military spending by NOK 600 billion (around 385 billion Danish kroner) over the next 12 years until 2036. This increase will augment the defense budget by 83 percent compared to this year, amid growing security challenges in Europe and other regions, the government announced. Norwegian Prime Minister Jonas Gahr Støre described the rise as ‘historic’ for military spending. Finance Minister Trygve Slagsvold Vedum emphasized the investments were crucial for Norway’s security and for maintaining peace and safety of the people while unveiling the long-term defense plans on Friday.