New Zealand's Defense Budget Surge

New Zealand plans to significantly increase its defense spending by NZ$9 billion over the next four years, aiming to nearly double the spending as a GDP proportion to 2% in eight years.

In a strategic financial move, New Zealand announced on Monday its intention to bolster its defense capabilities by allocating an additional NZ$9 billion over the next four years.

With the increased expenditure, the government targets to double its military spending as a share of GDP in the coming eight years, reaching up to 2%.

This announcement underscores New Zealand's commitment to strengthening national security amid evolving global threats.

(With inputs from agencies.)