Defense Budget News

The latest defense budget stories, summarized by AI

"China's Military Buildup: Budget Increase and Tough Talk on Taiwan"

China has announced a 7.2% increase in its defense budget for 2024, reaching nearly 1.7 trillion yuan, continuing a trend of annual increases of 7% or more. The actual defense spending is likely higher than reported, with estimates suggesting a 27% increase in 2022. This budget reflects President Xi Jinping's focus on security goals, including control of Taiwan, while also emphasizing economic growth and budget prioritization. The People's Liberation Army is not seeing the double-digit percentage increases of the past, but the government aims to build a modern military by its centennial in 2027.

2 years ago•Source: Defense News

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1.885 min•2 years ago

Germany's Defense Budget Rises Amidst Budget Cuts and Unused Aid Package

Germany's Cabinet has approved a draft 2024 budget that includes lower spending overall but an increase in defense spending, as the country aims to meet NATO's target of spending 2% of GDP on defense. The budget calls for spending of €445.7 billion, down nearly 7% from this year, with defense spending set to rise by €1.7 billion to €51.8 billion. Germany plans to reach the NATO target with the help of a special €100 billion fund and aims to meet it through its regular budget in the future. The government is returning to compliance with Germany's debt brake rules, which limit borrowing, and has agreed not to raise taxes.

via Defense News

5.805 min•3 years ago

Pentagon requests $1 trillion defense budget with focus on procurement and munitions stockpile.

via Roll Call

Featured Defense Budget Stories

"China's Military Buildup: Budget Increase and Tough Talk on Taiwan"

Germany's Defense Budget Rises Amidst Budget Cuts and Unused Aid Package

Pentagon requests $1 trillion defense budget with focus on procurement and munitions stockpile.

More Defense Budget Stories