Denmark Suspends Budget Deficit Rules to Cope With Ukraine Costs
(Bloomberg) -- Denmark is temporarily shelving its debt ceiling to help finance costs related to the war in Ukraine.
Denmark' current structural budget deficit is capped at 0.5% of gross domestic product, but will now be suspended “due to exceptional external conditions,” the finance ministry said in a statement late Monday.
Prime Minister Mette Frederiksen announced in March that triple A-rated Denmark would revamp budget rules to raise the deficit limit to 1% of GDP to help finance a boost in military spending. Other new expenditures include housing and services for Ukrainian refugees and higher energy prices, the finance ministry said.
©2022 Bloomberg L.P.
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