China’s Defense Budget to Grow by 10% in 2015

China’s Defense Budget to Grow by 10% in 2015

© AP Photo/ Andy Wong
Asia & Pacific
08:39 04.03.2015(updated 09:17 04.03.2015)
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According to spokeswoman for China’s National People’s Congress, China will increase its defense budget in 2015 by 10 percent.

© REUTERS/ Dado Ruvic
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BEIJING (Sputnik) – China will increase its defense budget in 2015 by 10 percent, Fu Ying, spokeswoman for China’s National People’s Congress, said Wednesday.

“I can reveal that in 2015 the defense budget is expected to increase by 10 percent,” she said at a press conference.

Fu Ying said that the modernization of the Chinese army was one of the main priorities the country had at the moment, as it needed to be able to provide security for its citizens.

She noted, however, that the modernization of the armed forces was not an easy task for China as it had to rely solely on its own resources when developing military equipment.

The spokeswoman said that the congress members supported the increase and expected the money to be spent appropriately.

The exact figure for the 2015 defense budget will be announced later on Wednesday. In 2014, China’s defense spending stood at $132 billion, ranking second behind the United States.

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