Norway Plans $56 Billion Defence Boost to Counter Russia usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
OSLO (Reuters) -Norway plans to raise its military spending by an accumulated 600 billion crowns ($56 billion) through 2036 to bolster its defence at a time of rising security challenges in Europe and beyond, the government said on Friday. Overall military spending for the next 12 years is expected to amount to 1.62 trillion crowns,…
Norway will dip into its huge rainy day sovereign wealth fund to deliver a “historic” defence spending boost of £44.5 billion over the next 12 years to face down Russian aggression.
After the EEA (European Economic Area) agreement, this could become one of the most important trade agreements Norway has ever entered, said Norwegian Prime Minister Jonas Gahr Stoere.