CANBERRA, Australia (AP) — The Australian government has released a big-spending economic plan for the next fiscal year that includes hefty investments in defense and national security as relations with China worsen. The government plans to spend 270 billion Australian dollars ($212 billion) over the next decade on upgrading defense capabilities to “promote an open and peaceful Indo-Pacific,” Treasury Department documents say. The government also plans to spend AU$1.3 billion ($1.02 billion) over a decade to enhance the ability of the nation’s main spy agency to address national security threats. The deficit for the fiscal year ending June 30 is forecast to be AU$161 billion ($126 billion).
The post Australia plans big defense and security investments appeared first on WEEK.