Thailand will Increase Defense Spending in Fiscal Year 2013

Thailand plans to increase defense spending in FY 2013 7% - up to 180.8 billion baht (5.7 billion dollars). According to the budget committee of the government, the military budget in 2013 fiscal year 7.5% of total government spending, or about 1.45% of GDP.

According to "Jane's Defence Industry" in 2013 fiscal year that begins in October 2012, the needs of the Army will be sent to the country about half of the allocation for defense appropriations. Army will be 88.8 billion baht, Navy and Air Force - 35.2 and 33.9 billion baht, respectively.

The remaining 13 billion baht will be allocated between the Royal Guard, the Ministry of Defense and the Institute of Defence Technologies (DTi).

Funding DTi, established in 2008 to grow the most - by 35% (up to 1.2 billion baht). This step is carried out under the leadership of Thailand's efforts to increase the capacity of the national defense industry and research in the field of defense. In defense research organizations in Thailand have been some successes. In particular, in 2011 produced a prototype of the DTi MRL based on 302-mm setting WS-1 produced in China (Institute acquired the project and related technologies in China in 2009).

According to experts of the International Monetary Fund (IMF), resulting in devastating floods that occurred in 2011, the loss of the country amounted to nearly 50 billion dollars, bringing the country's GDP in 2011 will increase by only 0.1%.

At the same time, according to April's review of "World Economic Outlook," IMF experts believe that the Thai economy is the fastest growing in the region of Southeast Asia over the next two years. According to the forecast, Thailand's GDP will grow by 5.5% in 2012 and 7.5% in 2013.