China's Defense Budget in Five Years will Reach Almost 175 Billion Dollars

16 Juli 2012

According TSAMTO, the annual average growth of China's military spending in the last 10 years was about 20% (ranged from 10.8% to 24.9%) at current prices. (photo : Militaryphotos)

 

TSAMTO, China's defense budget in 2017 will reach 174.9 billion dollars against 104.62 billion dollars in 2012, according to an analyst report, "Reportstak."

To date, China's defense budget is the largest among the countries of the Asia-Pacific region. The average growth of China's defense spending in previous years was 11.5% annually. Over the next five years annual growth is projected at 8.49%, said "Reportstak."

According to a report in 2011, Chinese exports of military products to 36 countries amounted to 1.35 billion dollars.

According TSAMTO, the annual average growth of China's military spending in the last 10 years was about 20% (ranged from 10.8% to 24.9%) at current prices. Taken as a basis of official data on the military budget, which was planned in 2011 at 601.1 billion yuan or 91.5 billion dollars.

China has pledged to increase the military budget in FY 2012 to 11.2% - up to 670 billion yuan (106.4 billion) in March of this year. This figure is close to the estimate "Reportstak."

As a spokesman for the annual session of the national legislature, Li Zhaoxing of China, a project of the defense budget this year provides for the allocation of 67.6 billion yuan more than in 2011.

According to Li, for the past three years from the onset of the global financial crisis, China's gross domestic product (GDP) and the state budget increased annually by 14.5% and 20.3%, respectively, and defense spending - by 13%.

He also noted that the share of defense spending in China's GDP has declined from 1.33% in 2008 to 1.28% in 2011, and in the state budget - from 6.68% to 5.53%.

(ArmsTrade)