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China's Defence Spending to Grow by 7.5% to $177.6Bln in 2019 - Draft Budget
China's Defence Spending to Grow by 7.5% to $177.6Bln in 2019 - Draft Budget
Sputnik International
BEIJING (Sputnik) - China's defence spending will grow by 7.5 percent to 1.19 trillion yuan ($177.6 billion) in 2019, according to the country's draft budget. 05.03.2019, Sputnik International
2019-03-05T03:58+0000
2019-03-05T03:58+0000
2022-10-17T19:46+0000
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China's Defence Spending to Grow by 7.5% to $177.6Bln in 2019 - Draft Budget
03:58 GMT 05.03.2019 (Updated: 19:46 GMT 17.10.2022) BEIJING (Sputnik) - China's defence spending will grow by 7.5 percent to 1.19 trillion yuan ($177.6 billion) in 2019, according to the country's draft budget.
China boasts the world's second-largest defence spending after the United States.
17 February 2019, 03:07 GMT
In 2018, Beijing expected to boost defence expenditures by 8.1 percent year-on-year. In 2017, China’s military spending grew by only 7 percent, which was the slowest growth rate in seven years.
READ MORE: China's GDP Growth to Slow Down to 6-6.5% in 2019 from 6.6% in 2018
China released the country's social and economic development plan on Tuesday.
Last year, the Chinese government announced a near 10% increase in their military budget for 2018. Chinese state media defended the decision, saying it is part of a modernization program, calling the increase "proportionate and low."
