China’s defence budget to grow 14.9 percent in 2009

June 18th, 2009 World Bank raises 2009 China growth forecastBEIJING — The World Bank is raising its 2009 growth forecast for China due to the country's stimulus-driven investment boom. But it also cautions that it is still too soon to say a sustained recovery is on the way.

April 7th, 2009 COLOMBO - Making a gloomy economic forecast, Sri Lanka's Central Bank said Monday that economic growth rate might drop to as low as 3 percent in 2009 from 6 percent in 2008 if adverse conditions persist. Releasing the annual report for 2008, the bank said that despite unprecedented and unfavourable developments globally and domestically, the Sri Lankan economy has 'demonstrated its resilience by recording a growth of 6 percent for 2008'.

March 19th, 2009 NEW DELHI - India's economy will grow by at least 5 percent in 2009-10, a Planning Commission member said here Wednesday. 'We should see at least a 5 percent growth in GDP (gross domestic product) in 2009-10.

March 18th, 2009 BEIJING - The World Bank (WB) has cut its forecast for China's 2009 economic growth yet again, this time to 6.5 percent from 7.5 percent, it said here Wednesday. This is the second cut the WB has made for China's 2009 gross domestic product (GDP) growth forecast.

March 4th, 2009 BEIJING - China plans to increase its defence budget by 14.9 percent in 2009, a spokesman said here Wednesday. The planned defence budget is 480.686 billion yuan ($70 billion), a rise of 62.482 billion yuan from last year, Li Zhaoxing, spokesman for the second session of the 11th National People's Congress (NPC), told a press conference.

February 26th, 2009 MOSCOW - The Russian government plans to use price regulation mechanisms for state defence contracts, a deputy prime minister has said. 'I believe it is extremely important to enshrine in law the concept of 'the state regulation of prices for arms and military and special equipment', and apply this mechanism to all defence contractors,' Sergei Ivanov said while addressing the country's lower house of parliament.

February 15th, 2009 NEW DELHI - Though the interim budget has not announced any specific sops for the crisis-hit auto sector, the increased allocation for defence and surface transport ministry would boost vehicle sales, according to a leading industry lobby. The higher outlay for the defence sector, the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) and the ministry of surface transport 'could be used for funding the vehicle replacement programme and for boosting the purchase of new vehicles,' the Society of Indian Automobile Manufacturers (SIAM) said.

February 15th, 2009 NEW DELHI - Security experts have viewed as marginal the 34 percent hike in the defence allocation in the interim budget for 2009-10 presented in the Lok Sabha Monday, pointing to the armed forces returning Rs.7,000 crore from what had been earmarked for arms purchases during the fiscal ending Mar 31. 'On the face of it they are talking about an increase of 25 percent (in real terms) but much of it is going to be used to pay arrears to the armed forces personnel after the (hikes recommended by the) Sixth Pay Commission,' defence analyst Commodore (retd) C.

February 15th, 2009 NEW DELHI - Saying that the Mumbai terror attacks had given 'an entirely new dimension' to cross-border terrorism, External Affairs Minister Pranab Mukherjee raised the allocation for defence 34 percent to Rs.1,41,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 he presented in the Lok Sabha Monday. The total revised expenditure for 2008-09 was Rs.1,14,600 crore against the allocation of Rs.1,05,600 crore, said Mukherjee, who was presenting the budget on behalf of Prime Minister Manmohan Singh, who is recovering from coronary bypass surgery.

February 15th, 2009 NEW DELHI - India's defence expenditure for 2009-10 has been hiked to Rs.1.41 trillion, acting Finance Minister Pranab Mukherjee said Monday in the Lok Sabha while presenting the interim budget for the fiscal beginning April 1. The allocation for 2008-09 was Rs.1.05 trillion.

February 15th, 2009 NEW DELHI - Maintaining a 'threshold has been crossed' with the Mumbai terror attacks, the Indian government hiked the allocation for defence by 34 percent to Rs.141,703 crore (Rs.1.417 trillion) in the interim budget for 2009-10 that External Affairs Minister Pranab Mukherjee presented in the Lok Sabha Monday. 'We welcome the budget,' Defence Minister A.K.

February 12th, 2009 PARIS - The French budget deficit rose to 56.2 billion euros ($72.5 billion) in 2008, an increase of 44 percent over the previous year, the budget ministry announced Friday. Budget Minister Eric Woerth immediately tried to reassure the French that there would be no tax increase in 2009 to make up for the revenue shortfall that helped create the large deficit.

February 10th, 2009 BANGALORE - Defence Minister A.K. Antony Wednesday hoped that the defence budget for fiscal 2009-10 beginning April 1 would rise despite the recession the Indian economy was going through.

January 18th, 2009 NEW DELHI - India's demand for oil will grow at six percent, the same as last year, Petroleum Secretary R.S. Pandey said here Monday.

December 29th, 2008 RIO DE JANEIRO - Brazil, recovering from the impact of the global financial meltdown, expects its economy to grow in the first half of 2009. Labour Minister Carlos Lupi said the country's economy will see an estimated 4.5 percent growth in 2009, higher than the previously projected four percent by the finance ministry and 3.2 percent by the central bank.