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The Economic Times

Top News / The Economic Times

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Australia boosts military spending as Iran war makes global impact

Australia is boosting its defense budget. Defense Minister Richard Marles announced an additional 53 billion Australian dollars over the next decade. This move aims to enhance national security amid a complex global environment. The strategy emphasizes self-reliance while maintaining key alliances, particularly with the United States. A major investment includes a fleet of nuclear-powered submarines.

16 Apr 2026 1:02 pm