Europe
Turkey allocates $40 billion for its defense budget in 2024
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Defense budget
Defense Industry
South Korea Announced $262.8 Billion Defense Budget For Five Years
South Korea plans to spend 346.7 trillion Korean won ($262.8 billion) in the next five years to bolster its defense capabilities amid, according to the country’s Defense Ministry. The ministry announced its 2024-2028 midterm defense […]
Europe
Russia to hike defense budget by 70 percent to fight Putin’s war in Ukraine
Russia is set to increase defence spending by almost 70 percent in 2024, a finance ministry document published on Thursday showed, as Moscow pours resources into its full-scale offensive in Ukraine. Since the conflict began […]
South Asia
India, Russia suspend trade in rupees, India’s defense import from Russia takes a nosedive
India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers, two Indian government officials and a source with direct […]
Defense Industry
France unveils €413 billion military budget spread over next 7 years, amid Ukraine war
On April 4th, the French government unveiled the new Military Programming Budget (LPM), which is €100 billion higher than the previous seven-year budget. Sébastien Lecornu, French Minister of Defense, described this LPM as an “unprecedented […]
Defense Industry
China boosts its military budget by nearly $230 billion this year – 7.2% of its spending
China announced it will boost its military budget by nearly $230 billion this year amid concerns it will launch an invasion of Taiwan. The money is set to ‘boost combat preparedness and enhance military capabilities,’ […]
East Asia and Pacific Region
Japan’s $320 billion defense spending doesn’t address manpower shortage, Japan has the lowest population growth among OECD countries
Japan’s plan to undertake its biggest military build-up since World War Two without increasing headcount is flawed, former and serving officers told Reuters, casting doubt over the country’s efforts to deter regional rivals China and […]
Defense Industry
Japan Unveils $320 Billion Defense Spending, The Largest Capital Spends Since WWII
Japan on Friday unveiled its biggest military build-up since World War Two with a $320 billion plan that will buy missiles capable of striking China and ready it for sustained conflict, as regional tensions and […]
Defense Industry
German Companies Worries €100 Billion Defense Budget May Be Awarded To Foreign Companies
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South Asia
Pakistan Slashes 20% Military Modernization Spending To Receive IMF Bailout Packages
Pakistan has slashed the armed forces development programme by Rs72 billion ($346 million) or one-fifth of the allocation made on June 10 in order to meet a major condition of the International Monetary Fund (IMF) […]