Norway plans $56 billion boost in defense spending over 12 years

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Norway plans to raise its military spending by an accumulated 600 billion crowns ($56 billion) through 2036 to bolster its defense 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 ($151 billion), it said.

Source(s): Reuters