Friday, February 18, 2011

Singapore raises defence spending by 5.4% to a record $12.08 billion

News report from the Singapore media. Analysis of the Defence Budget will follow soon.

Budget 2011: S'pore to raise defence budget by 5.4%

From: Channel New Asia
Posted: 18 February 2011 1609 hrs

SINGAPORE : Singapore, which has one of Asia's best-equipped militaries, has raised its national defence budget by 5.4 per cent this year, government data showed on Friday.

The government plans to spend S$12.08 billion (US$9.5 billion) on defence in the 2011 fiscal year, up from S$11.46 billion the year before.

Singapore's navy, army and air force will get S$11.53 billion to buy and maintain military equipment, for the upkeep of camps and for payment of salaries.

The city-state currently has a population of more than five million, a quarter of whom are foreigners.

Singapore's economy grew 14.5 percent in 2010, the fastest in Asia.

The defence budget is about five per cent of gross domestic product.

1 comment:

Anonymous said...

Sounds about right ... matches inflation :P