Philippines boosts spending for second phase of military modernisation

13-Jun-2018 Intellasia | | 6:02 AM Print This Post

The Philippine government has reportedly allocated PHP289 billion (USD5.46 billion) to procurement during the second modernisation phase of the Armed Forces of the Philippines (AFP), which runs from 2018 to 2023.

The figure, revealed by AFP officials in media reports on 9 June, represents a major increase over the PHP90 billion allocated for AFP procurement in the 201317 first phase.

Under the second stage of modernisation known as horizon two about PHP77 billion will be allocated to the Philippine Navy (PN), with this figure confirmed in a speech by President Rodrigo Duterte in May. The Philippine Army (PA) and Philippine Air Force (PAF) will share the remaining PHP212 billion.

http://www.janes.com/article/80795/philippines-boosts-spending-for-second-phase-of-military-modernisation

 


Category: Philippines

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