Jon Grevatt, Bangkok – IHS Jane’s Defence Weekly
02 March 2017
Thailand’s government has launched a 10-year military development programme through which it intends to address some of its major challenges, including ongoing insurgency in the south.
The ‘Modernisation Plan: Vision 2026’, which was announced by the Ministry of Defence (MoD) on 27 February, contains three objectives: to improve the preparation of the Thai military, to enhance capabilities, and to modernise related structures.
The modernisation plan does not provide a specific list of required military assets or capabilities but does provide an outline for Thailand to increase defence spending from the existing 1.4% of GDP to 2% of GDP by the end of the decade, officials confirmed to Jane’s.
Original post: janes.com
Current budget is approximately $6 billion therefore according to projected GDP by 2020 the defense budget would likely be $9 billion *Note there is no forecast to 2026
|GDP Growth Rate||0.4||1||0.5||0.9||1||0.8|
|GDP Annual Growth Rate||3||3.4||3.2||3.1||3.5||3|