Posted on May 10, 2023
Australian budget: Historic defense spending, plus AU$1.2B on US-made missiles - Breaking Defense...
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Today’s rollout of the Australian budget shows the Australian Defence Force has big plans to buy US-made long-range strike capabilities, as Canberra pursues a strategy to deny an adversary easy access to Australia’s area of interest.
Overall, the defense budget for the next year is set at AU$52.588 billion (US$35 billion), the first time funding has exceeded AU$50 billion. That amounts to 2.04 percent of Gross Domestic Product (GDP). Defense spending of two percent of national GDP is an imperfect but widely used benchmark for the adequacy of a nation’s commitment to national defense.
Just how overwhelmingly reliant Australia is on US-sourced munitions is clear from the budget, unveiled Tuesday. For 2023-2024, the ADF disclosed is plans to spend AU$12.3 billion (US$8.3 billion) on new equipment — of which about AU$1.2 billion (US$800 million), or just under 15 percent of the overall annual total, will be spent on American precision guided munitions (PGM).
Overall, the defense budget for the next year is set at AU$52.588 billion (US$35 billion), the first time funding has exceeded AU$50 billion. That amounts to 2.04 percent of Gross Domestic Product (GDP). Defense spending of two percent of national GDP is an imperfect but widely used benchmark for the adequacy of a nation’s commitment to national defense.
Just how overwhelmingly reliant Australia is on US-sourced munitions is clear from the budget, unveiled Tuesday. For 2023-2024, the ADF disclosed is plans to spend AU$12.3 billion (US$8.3 billion) on new equipment — of which about AU$1.2 billion (US$800 million), or just under 15 percent of the overall annual total, will be spent on American precision guided munitions (PGM).
Australian budget: Historic defense spending, plus AU$1.2B on US-made missiles - Breaking Defense...
Posted from breakingdefense.com
Australia
Defense
Budget
Weapons
Equipment
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Australia like other nations in that region is well aware of the Threat that Communist China poses to nations not only in their are but globally. The strength of the unity of many nations is needed to offset any possible Military action from Mainland China. China doesn't do anything by accident and itself is already beefing up its Military and even making more forward operating bases from which to operate against other nations. The threat is real !
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