A proposed 6.6 percent cut in New Zealand’s defense budget could stall the Oceanian nation’s bid to join the AUKUS military alliance, according to a Reuters report on Wednesday. Wellington is planning to reduce its proposed defense spending for the year ending June 2025 to $3.03 billion from the current year’s $3.25 billion, based on...
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UK to Boost Defense Budget With $109B Annual Spending Eyed by 2030
The United Kingdom plans to increase defense spending to 2.5 percent of its gross domestic product by 2030, U.K. Prime Minister Rishi Sunak said Tuesday. According to the prime minister, the allocation will result in an additional $94 billion in defense expenditures in the next six years and $109 billion in annual spending by the...
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Saab Assembling Gripen Combat Aircraft at Embraer’s Sao Paolo Plant
Swedish aerospace and defense company Saab is assembling 15 F-39E Gripen combat aircraft at Embraer‘s factory in Sao Paolo, Brazil. The fighter production line, inaugurated in May, is an offshoot of the $5.04 billion order for 36 Gripen fighters that Brazil initiated in 2014, with four more added in 2022 to double the country’s air...
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Sweden Finalizes Military Budget, Puts Focus on Innovation, Private Sector Tech
The Swedish government has released its 2024 budget bill, which proposes an added military defense funding of about $63 million. The increase, considering final adjustments, would add over $2.43 billion to the Swedish defense budget, an increase of 28 percent at $10.72 billion from $8.24 billion in 2023. This doubles the country’s military appropriations since...