Australia Defends Current Defense Spending Plan
(MENAFN) Australian Prime Minister Anthony Albanese on Friday stood firm in support of the nation’s military expenditure blueprint, resisting demands from the Trump administration to boost it to 3.5 percent of gross domestic product (GDP), as conveyed by domestic press sources.
According to a news agency, Albanese emphasized that Australia intends to adhere to its pre-established trajectory, which aims to raise defense outlays from 2 percent to 2.3 percent of GDP by the year 2034.
“We have increased our defence investment. We have increased it by $57 billion over the medium-term; and by more than $10 billion in the short-term as well. My job is to look after Australia's national interest - that includes our defence and security interests. And that is precisely what we're doing,” he stated.
A day earlier, Australian Defense Minister Richard Marles also reaffirmed that the nation would maintain its defense expenditure plans, despite calls from US President Donald Trump urging allies to reduce their dependence on American military support.
Although Australia is not part of NATO, its member nations have agreed to a heightened defense allocation target of 5 percent of GDP.
This 5 percent objective encompasses two primary elements: a minimum of 3.5 percent of GDP per annum for essential military spending aligned with NATO Capability Targets, and up to 1.5 percent directed toward domains like safeguarding vital infrastructure, cybersecurity measures, societal resilience, technological advancement, and strengthening industrial capacities.
However, Spain declined to comply with the target, leading Trump to issue a threat to impose stricter terms on the nation via a revised trade deal.
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