Malaysia increases 2015 defence budget by 10%

Malaysia increases 2015 defence budget by 10%

The Malaysian government announced on 10 October a 2015 defence budget of MYR17.76 billion (USD5.4 billion), a year-on-year increase of 10%. The allocation amounts to 6.5% of projected yearly government expenditure and around 1.5% of GDP.

In presenting the budget to parliament, Prime Minister Datuk Seri Najib Tun Razak indicated that the emphasis of defence spending in 2015 will be on improving the capabilities of the Malaysian Armed Forces (ATM) through investments in procurement and in improving welfare for personnel.

The reference to procurement is notable given the lack of major programmes to have progressed to contract stage in recent years as Malaysia’s economic constraints have restricted military acquisitions.

Read More:Malaysia increases 2015 defence budget by 10% – IHS Jane’s 360.

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