China’s defense budget will grow by 7-8 percent in 2016
BEIJING (Sputnik) – According to the spokeswoman, the exact military budget figures will be announced on Saturday, when China's National People's Congress will be presented with the budget draft.
“The military budget of China this year will grow again, but the rate of growth will be slower than last year. This year growth will amount to about 7-8 percent,” Fu Ying said at a press conference on Friday.
Last year, China’s military spending amounted to about $135 billion, having increased by over 10 percent year-on-year from 2014. It was the slowest growth rate in five years.
In 2014, China's defense budget grew by 12.2 percent, amounting to $132 billion and ranking second in the world behind the United States.
Credit to SputnikNews.com
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