Norway has announced plans to increase defence spending by 115 billion crowns ($12 billion) by 2036, pushing total defence expenditure to 3.5% of GDP, in line with NATO commitments. We are ... allocating a significant increase in resources to the long-term plan, while also carefully weighing the priorities needed to rapidly strengthen Norway's defence capabilities," Prime Minister Jonas Gahr Stoere has said.
The country will embark on a major procurement programme, including six submarines from Germany's TKMS, at least five frigates from BAE Systems, and long-range rockets and artillery from Hanwha Aerospace. Additionally, short-range air defence and anti-drone systems, reflecting lessons from the Ukraine war.
Some projects, such as long-range maritime drones and anti-ballistic air defences, have been delayed pending technological developments and cost assessments. Norway's $2 trillion sovereign wealth fund will allow the country to finance this expansion without borrowing.