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Home»World»Asia
Asia

rewrite this title Philippines seeks increase in defence spending in 2025

August 5, 2024No Comments1 Min Read
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Summarize this content to 2000 words in 6 paragraphs A 2016 ruling by the Permanent Court of Arbitration in the Hague found that Beijing’s expansive claims had no basis under international law. The case was brought to the court by the Philippines, and China rejects the ruling.

Under the proposed 2025 budget, the Philippine Coast Guard, which has been carrying out patrols and escorting resupply missions in the South China Sea, will see a 6.0 per cent increase in its budget to 31.4 billion pesos.

Next year’s spending plan, which is equal to 22 per cent of the country’s gross domestic product, is 10.1 per cent higher than the current budget, to support Philippine President Ferdinand Marcos’ agenda to grow the economy by as much 8 per cent and reduce poverty.

As mandated by law, the education sector will get the lion’s share of the budget with an allocation of 977.6 billion pesos.

The rest of the budget will go to various agencies including public works with 900 billion pesos, health with 298 billion pesos, and agriculture with 211 billion pesos.

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