Agdamag said the issue is being addressed by political, diplomatic, and legal actions taken against China. He said the military is establishing a “minimum deterrent capability,” alluding to the military’s modernization program. President Aquino recently signed the modernization law allocating P75 billion for the implementation of the military modernization program until the end of his term in 2016. Nevertheless, the official said his office is recommending a further increase in defense expenditures. “We are recommending that we commit an increase in our investment for defense, from .5 to 1 percent of the GDP (Gross National Product),” he said. Agdamag explained that their proposed increase is on top of the budget of the defense and military establishment which is equivalent to 1.1 percent of the national budget. “We are recommending an additional of .5 to 1 percent (of GDP), not only to be at par with our neighbors, [but] more importantly to develop a modicum of a credible defense capability to protect our maritime and strategic interest,” he said. Agdamag added that the country also needed to enhance its security relations with other countries, specially with the US, “when it is still able to deter China”, to buy time for the Philippines to develop its military capability. “We need to pursue a healthy and friendly relationship with China and work with her for regional peace and prosperity.... to buy us time to grow our economy and expand our military capabilities,” he explained further. “So right now, we are buying time, we need at least 10 years with sustained economic growth of 7 to eight percent in order to grow our capability upgrade program.”
Posted on: Fri, 14 Jun 2013 06:13:55 +0000