Wellington: New Zealand will boost its defence spending over the next four years to build a “modern, combat-capable” force amid growing tensions in the region, Prime Minister Christopher Luxon said on Monday.
The country will invest $12 billion New Zealand ($6.6 billion US) over the next four years, eventually lifting its defence spending from just over 1% of gross domestic product to more than 2% over eight years, Luxon said.
“New Zealand and our allies and our partners across the world are no longer in a benign environment,” he told a media conference.
“The past few months have reinforced that tectonic shifts are unfolding in the global exercise of power, economic leverage and also strategic influence,” he said. “Old assumptions are being upended and rules are giving way to power ... the risk of conflict in our region has risen.” (DPA)
