Arab Today, arab today philippine defence expenditure to rise by 30 in 2015
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

Philippine defence expenditure to rise by 30% in 2015

Arab Today, arab today

Arab Today, arab today Philippine defence expenditure to rise by 30% in 2015

Philippine Army AIFV
Manila - Xinhua

The government of Philippine President Benigno Aquino III is seeking to increase its military spending by nearly 30 percent on year to 115.5 billion pesos (2.66 billion U.S. dollars) in 2015.
The hike in defense expenditure is contained in the proposed 2. 6 trillion pesos (60.04 billion U.S. dollars) budget for 2015 submitted by Aquino to Philippine Congress on Wednesday.
The proposed budget next year represents 18.4 percent of the country's gross domestic product and is 15.1 percent higher than the 2014 budget of 2.26 trillion pesos (52.3 billion U.S. dollars).
By expense class, military spending for next year posted the biggest increase at 29.9 percent, followed by economic services at 18.1 percent, and general public services at 16.7 percent.
Social services got the lion's share of the 2015 proposed budget at 967.9 billion pesos, followed by economic services at 700.2 billion pesos.
In his fifth State of the Nation Address on Monday, Aquino had vowed to continue implementing the modernization program of the Armed Forces of the Philippines (AFP).
Under the AFP modernization program, the military had obtained eight Sokol Combat Utility Helicopters, three AgustaWestland-109 helicopters and the first landing craft utility ship, BRP Tagbanua. Four refurbished UH-1 helicopters and 2 navy cutters ordered by the Philippine government have also arrived in the country.
Next year, the Philippines is expected to get two of the 12 FA- 50 lead-in fighter trainer jets it ordered from South Korea.
The government is targeting to acquire more brand new 8 Bell combat utility helicopters, two anti-submarine helicopters, 10 more AgustaWestland-109 helicopters, two light-lift aircraft, three medium-lift aircraft, and radar systems.

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