China's military spending increase to be smallest in 6 years

  • 2/10/2023
  • 15:38
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BEIJING, Jumada I 24, 1437, Mar 4, 2016, SPA -- China said Friday it will boost defense spending by about 7 to 8 percent in 2016, the smallest increase in six years, reflecting slowing growth in the world's second-largest economy and a drawdown of 300,000 troops as Beijing seeks to build a more streamlined, modern military. The People's Liberation Army, being trimmed to 2 million troops from 2.3 million, will still be the world's largest standing military. A robust armed forces remains a major priority for China's leaders. Spending at all levels of China's government is being curbed because of a drop in the economic growth rate, which fell to a 25-year low of 7.3 percent in 2015 and is expected to decline further this year. For most years since 2000, China posted double-digit increases in military spending, and this will be only the third time in that period with a single-digit increase, including 2010's increase of 7.5 percent. --SPA 10:38 LOCAL TIME 07:38 GMT www.spa.gov.sa/w

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