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Norway has announced plans to increase its defence budget by 115 billion kroner ($11 billion) over the next decade, citing growing security concerns linked to regional instability.
Prime Minister Jonas Gahr Store disclosed the development during a press briefing on Friday, noting that annual defence spending will rise from about 112 billion kroner currently to more than 190 billion kroner by 2035.
The increase marks a significant expansion compared to pre-2022 levels, when Norway’s defence budget stood at roughly 65 billion kroner before Russia’s full-scale invasion of Ukraine.
Store said the move would help align Norway with the North Atlantic Treaty Organisation’s (NATO) target of allocating 3.5 per cent of Gross Domestic Product to defence spending, stressing that the decision reflects a more serious and unpredictable security environment.
“This is a significant priority to strengthen Norway’s defence capabilities in the face of a security situation that has become even more serious and unpredictable,” he said.
Norway’s defence investment has been rising steadily since 2021, with the country consistently increasing allocations year on year.
Norway, which shares a land and maritime border with Russia, also outlined plans to acquire new submarines and frigates, as well as upgrade key military infrastructure.
The government said it would further enhance capabilities in electronic warfare, short-range air defence, and autonomous systems.
Store also noted that rising global demand for military equipment has driven up costs and extended delivery timelines, adding that Norway must carefully phase its defence procurement strategy.
