Iceland’s finance minister cannot explain defence spending items
Wednesday 21st October 2026 on 08:46 in
Iceland
Iceland’s finance minister, Daði Már Kristófersson, has referred questions about several security and defence spending items to the Ministry for Foreign Affairs, mbl.is reported. The items are included in a breakdown of government spending that was given to Alþingi’s budget committee on Friday, after a wait of more than a year.
The breakdown lists 13 policy areas under the A1 section of the budget. Asked what spending in some of them covers, including media, science and research funding, and cooperation on security and defence, Kristófersson said the format had been requested by the foreign ministry. He said there was a reason for the way the figures were presented but could not provide more detail on specific items.
Kristófersson said the delay in delivering the breakdown stemmed from comments by the foreign ministry about what information would be appropriate to publish. He referred questions about the reasons for the delay to the foreign minister.
Because Iceland has no defence ministry, responsibilities that would normally fall to one are spread across several ministries, Kristófersson said. He said this was the first review of Iceland’s actual spending on defence-related matters, and that it followed guidance from NATO. As a result, he said, some entries combine spending on several activities.
Asked which partners were covered by the budget item for cooperation on security and defence, Kristófersson again referred the question to the foreign ministry. He did not provide further details about the activities covered by the items or how they relate to Iceland’s security and defence.
Icelandic authorities aim to raise security and defence spending to 1.5% of gross domestic product before 2035. Spending is expected to reach 1% of GDP in 2031. Kristófersson said the government was working towards the 1.5% target by 2035, while noting that international developments could change the assumptions. He said the plans align with those submitted to NATO and that spending in the policy area has increased gradually in recent years.
The spending list also raises the question of whether ministries have grouped together expenses from various policy areas.