Indonesia approves $4.25 bln rise in defence budget by 2024 - finmin

Indonesia's president has approved raising the five-year defence budget ending in 2024 to $25 billion from $20.75 billion, to upgrade the country's military hardware in response to geopolitical developments, its finance minister said.

In a press conference on Wednesday, Sri Mulyani Indrawati said the approval came in a meeting she attended with President Joko Widodo and Defence Minister Prabowo Subianto.

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