China Expected To Increase Military Budget 7-8 Percent

Photo: Anadolu Agency
Photo: Anadolu Agency

Beijing,  25 Jumadil Awwal 1437/04 March 2016 (MINA) – China is expected to slow its military spending during the next year, with a party spokesperson predicting an annual increase Friday down on last year’s 10 percent.

In a press conference, Fu Ying said military spending is budgeted to grow by around 7 to 8 percent in 2016.

“The exact figure will be released in a budget report to the session,” state news agency Xinhua quoted Fu as saying,  Anadolu Agency quoted by Mi’raj Islamic News Agency (MINA) as reporting.

Despite aggravations in the South China Sea, she added that the 2016 raise is in line with China’s national defense need and fiscal revenue.

Also Read:  Beirutis Feast on Ramadan Eve

The ongoing squabble over islands and reefs claimed by several different nations in the Sea has seen both China and the U.S. accuse each other of attempting to militarize the area.

Last year, the People’s Liberation Army’s budget increased 10.1 percent to 886.9 billion yuan ($136 billion). The U.S. defence budget, meanwhile, was $597 billion.

On Friday, Fu said the new budget was based mainly on China’s defence needs and the country’s economic development. (T/P010/R07)

Miraj Islamic News Agency (MINA)