OfficeWire, 6 Jul 2009
Defence Minister Teo Chee Hean has announced that defence spending will amount to US$11.4bn or 6% of GDP in 2009. As a percentage of GDP, this amounts to one of the biggest defence budgets in recent history. The Defence Minister stressed the importance of maintaining military spending, noting that threats do not diminish but, rather, often emerge during testing economic times, owing to increased social and political frictions. He noted several factors that had enabled Singapore to build up its defence capability over time: careful spending, sourcing and upgrading second-hand equipment, an ongoing maintenance regime, and investment into research and development.
Read More
