Copenhagen, May 31 (IANS) The Danish government has proposed a defence settlement worth 143 billion kroner ($21 billion) over the next 10 years, in an unprecedented strategic move, Acting Minister of Defence Troels Lund Poulsen said.
"We must stand up stronger in the face of the serious, new threat that we are looking at now and in the future," Xinhua news agency quoted Poulsen as saying
"The government will significantly strengthen Danish defence and security with approximately 143 billion kroner over the next 10 years, with a steadily increasing framework for new initiatives from 2024," he added.
The proposed settlement includes a flexible framework agreement that outlines the overall strategic direction and financial constraints for Danish defence and security, while further details will be decided in sub-agreements starting in autumn 2023.
The government has identified three geographical areas of action for the Danish Armed Forces, where it says the country needs to take more responsibility: the Commonwealth of Nations (Greenland and Faroe Islands), the neighbouring Eastern regions, and global conflict hotspots.
The plan would also ensure Denmark meets its NATO goal of spending two percent of its gross domestic product (GDP) on defence and security by 2030.
This commitment is in line with the Danish government's ambition to strengthen society's resilience against emerging threats, such as cyberattacks and critical infrastructure attacks.
Large investments "must also benefit society as a whole by contributing to Danish industry, research, and workplaces," said Poulsen.
The proposed defence settlement is awaiting political consensus within the Danish Parliament.