Australia will increase its defense spending to 3% of its gross domestic product (GDP) by 2033, up from around 2% currently, in a context of growing conflicts worldwide, the government announced on Thursday.
“The international standards that once limited the use of force and military coercion continue to erode,” Defense Minister Richard Marles wrote in a speech he is set to deliver on Thursday, excerpts of which were seen by AFP. “Today, the number of countries involved in conflicts is higher than at any other time since the end of World War II, and this phenomenon affects all regions of the world,” he added.
Concerned about the strengthening of the Chinese navy, Australia has been modernizing its defense in recent years to deter a potential adversary from the north. In 2021, it entered into the Aukus defense partnership with the United States and the United Kingdom, specifically to equip itself with nuclear-powered submarines over the next decade.
The initial target set by Canberra for defense spending was 2.3% of GDP by 2033 but the announcement on Thursday implies additional military spending of 53 billion Australian dollars (32.2 billion euros), according to defense ministry officials. To achieve the 3% target, Australia adjusted its defense budget calculation to align with NATO’s definition, which includes elements such as military pensions.
