Norway to Nearly Double Defense Spending by 2036 in New Plan
- Military spending estimated to reach 2.7% of GDP by 2030
- Plans to buy frigates, submarines and air defense missiles
A member of the Norwegian Armed Forces during a border training exercise.
Photographer: Jonathan Nackstrand/AFP/Getty Images
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Norway plans to almost double its defense spending over the next 12 years as the energy-rich nation seeks to adapt to threats from neighboring Russia.
The Nordic country will boost spending on its military by 600 billion kroner ($56 billion) by 2036, the Labor-led minority government said in a statement Friday, laying out a new long-term defense plan focused on strengthening its navy and air defense.