Norway Boosts Defense Budget Amid Geopolitical Tensions

Norway plans to raise its defense budget by 115 billion Norwegian crowns, approximating $11.87 billion, by 2036. This move aligns with NATO commitments and responds to rising geopolitical pressures from Russia's actions in Ukraine and expectations from the United States.

Norway is set to significantly boost its defense spending by 115 billion Norwegian crowns, equivalent to around $11.87 billion, extending through the year 2036, as per a government announcement on Friday.

This initiative follows a growing trend among NATO member nations to ramp up defense budgets amidst increasing tensions due to Moscow's ongoing war in Ukraine. Additionally, U.S. influence under President Donald Trump's administration has been a factor.

The proposed budget enhancement will elevate Norway's defense investment to constitute 3.5% of its GDP by 2035, aligning with NATO obligations. Financial aid to Ukraine will represent supplementary support, the government confirmed.

(With inputs from agencies.)