Norway intends to increase its total spending on defence and broader security to 5% of its GDP, Prime Minister Jonas Gahr Stoere announced on Friday, aligning with a proposed NATO-wide target.
European nations are rushing to strengthen their defences amid concerns of a potential Russian threat, especially after U.S. President Donald Trump's administration signalled that the U.S. would no longer be the primary guarantor of European security.
NATO Secretary General Mark Rutte has suggested that all member states should commit to allocating 5% of GDP toward defence and wider security efforts during the upcoming summit in The Hague, scheduled for June 24-25.
"We need to do more to protect our country and support collective security within NATO", Stoere stated at a press conference. He emphasised that safeguarding Norway involves maintaining a credible defence system with appropriate equipment, sufficient personnel, and effective planning.
Norway, which shares a border with Russia, plans to allocate 3.5% of its GDP to traditional defence, including military aid to Ukraine and an additional 1.5% to broader security initiatives, in line with Rutte's recommendation.
According to national statistics agency SSB, Norway spent around 2.2% of GDP on defence in 2024, a significant rise from 1.4% in 2022. The government has projected this figure to reach 3.3% in 2025.
Stoere noted that Norway is likely to meet the 5% target sometime after 2030, depending on the outcomes of the NATO summit next week. When asked about Spain's hesitation to commit to the 5% plan, he expressed confidence that efforts would be made to reach a unified agreement.
Unlike many European countries, Norway is uniquely positioned to fund increased defence spending without borrowing, thanks to its nearly $2 trillion sovereign wealth fund- the largest in the world.
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