COPENHAGEN, May 30 (Xinhua) -- The Danish government on Tuesday proposed a defense settlement worth 143 billion Danish kroner (21.7 billion U.S. dollars) over the next 10 years, in an unprecedented strategic move.
"We must stand up stronger in the face of the serious, new threat ... that we are looking at now and in the future. The government will significantly strengthen Danish defense and security with approximately 143 billion Danish kroner over the next 10 years, with a steadily increasing framework for new initiatives from 2024," said Acting Minister of Defense Troels Lund Poulsen.
The proposed settlement includes a flexible framework agreement that outlines the overall strategic direction and financial constraints for Danish defense and security, while further details will be decided in sub-agreements starting in autumn 2023.
The Danish 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 Faeroe Islands), the neighboring 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 defense 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 defense settlement is awaiting political consensus within the Danish Parliament (Folketing).