Oslo Boosts Defense Budget Amid Rising Global Uncertainty
Norway has announced a plan to spend an additional 115 billion Krone ($11.8 billion) on defense over the next decade, with the goal of reaching NATO’s 3.5% GDP target by 2035. The new funding will be used to acquire advanced munitions, including the AARGM-ER missile, and to accelerate the development of the Finnmark Brigade. Norway also plans to acquire Type 212CD submarines and Type 26 frigates. The Long-term Defence Plan proposal highlights the need for increased defense spending due to rising raw material prices and the impact of the Ukraine war on defense equipment costs. The plan was first reported by Breaking Defense.