Tuesday, 02 March 2021 11:29
Despite the impact of COVID-19 over the past year, many Chinese military analysts and observers believe that the country s defense budget for 2021 will continue to increase, likely at a higher growth rate than 2020, and they name China s positive economic growth, the tough military threats China is facing and China s own rightful needs to develop national defense capacity as the main reasons, Global Times reports.
Chinese 122mm SPH, combined arms brigade, 77th Army Group, plateau area, June 28, 2020 (Picture source: eng.chinamil.com.cn- Xue Zikang)
Economists and fiscal experts expect the world s second-largest economy to taper spending at large in 2021 on a tightening budget though, after a record 3.6 percent budget deficit target for coronavirus-inflicted 2020, Global Times reports. Several military experts reached by the Global Times a week prior to the expected release of the figure predicted a growth rate of around 7 percent.