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New Zealand's Bold Move: Doubling Defence Spending Amid Global Tensions

New Zealand's Bold Move: Doubling Defence Spending Amid Global Tensions In a move to strengthen its military capabilities, New Zealand unveiled plans to significantly increase its defence budget. The government announced on Monday that it would allocate an additional NZ$9 billion ($5 billion) over the next four years.Prime Minister Christopher Luxon emphasized that the current defence expenditure was inadequate, especially amidst rising global tensions. The upcoming budgetary increase is set to nearly double New Zealand's defence spending as a proportion of its GDP to 2% within the next eight years.The newly revealed Defence Capability Plan highlights the substantial boost in resources aimed at enhancing the nation's defence force capabilities, which, for comparison, had a budget of just under NZ$5 billion for the year 2024-25.

In a move to strengthen its military capabilities, New Zealand unveiled plans to significantly increase its defence budget. The government announced on Monday that it would allocate an additional NZ$9 billion ($5 billion) over the next four years. Prime Minister Christopher Luxon emphasized that the current defence expenditure was inadequate, especially amidst rising global tensions.

The upcoming budgetary increase is set to nearly double New Zealand's defence spending as a proportion of its GDP to 2% within the next eight years. The newly revealed Defence Capability Plan highlights the substantial boost in resources aimed at enhancing the nation's defence force capabilities, which, for comparison, had a budget of just under NZ$5 billion for the year 2024-25. (With inputs from agencies.

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