New Zealand has announced a defence budget of NZD3.7 billion (USD2.5 billion) for 2016/17, representing an 8.8% increase over the previous financial year. A further NZD301 million of new funding was also announced for defence, which will be allocated over the four years between 2016/17 and 2019/20.
The funding for defence is comprised of two main allocations administered by the Minister of Defence. The majority of funding is provided under the Defence Force vote for which NZD3,280 million was allocated under the 2016/17 budget. Under the appropriation the air force will receive NZD770 million, the army NZD809 million, and the navy USD459 million, with NZD446 million provided for defence-wide functions.
(Jane's)
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