The Danish government has announced plans to bolster its military by setting up a 50 billion-kroner ($7 billion) fund that it says will raise the country’s defense spending to more than 3% of gross do

Denmark plans to accelerate its defense modernization by spending an additional 50 billion krone ($7 billion) in 2025 and 2026, the country’s government has announced. Copenhagen will create an Acceleration Fund to enable faster procurements to support the country’s defense and security.

Danish Prime Minister Mette Frederiksen said on Wednesday that defence cuts "must never happen again". View on euronews

Denmark will boost its defense spending to more than 3% of economic output as the nation seeks to counter an escalation in security threats from Russia.

Denmark plans to set up a 50-billion-kroner (7-billion-dollar) rearmament fund due to concerns about Russia, the government announced on Wednesday. This year and next, the NATO member plans to invest the so-called Acceleration Fund in the rapid procurement of defence goods,

The government said it will raise the country’s defence spending to more than 3% of gross domestic product (GDP) this year and next.