OTTAWA, June 9 (Xinhua) -- Canadian Prime Minister Mark Carney said on Monday his government would increase spending on the country's defence and security and achieve NATO's defence spending target this fiscal year.
Carney said in a news release that the defence spending for 2025-26 will be over nine billion Canadian dollars (6.6 billion U.S. dollars), or two percent of GDP, meeting the NATO defence commitment half a decade ahead of schedule.
According to the news release, measures in the defence spending increase plan include better pay for Canadian Armed Forces; new aircraft, armed vehicles, and ammunition; bolstering Canada's defence industrial capacity, as well as expanding the reach of the Canadian Coast Guard and integrating it into the NATO defence capabilities.
"Canada requires these capabilities to uphold and assert its sovereignty and ensure our defence never becomes dependent on others again. As we strengthen the Canadian Armed Forces, we will also build up Canadian industry, driving innovation and creating good careers," said Carney.
Carney promised to further accelerate the investments in years to follow.
According to NATO's annual report, Canada's defence spending was around 1.45 percent of GDP last year. ■
