New Zealand Prime Minister Christopher Luxon said on Monday that his government will increase its defense spending from 1% of the GDP to over 2% in the next ten years, while investing 9 billion New Zealand dollars ($5 billion) into missiles, cyber security and drones.
"Global tensions are increasing rapidly, and New Zealand has stepped up on the world stage, but our current defense spending is simply too low," Luxon said, adding that the priority of the new investment will be "enhanced strike capabilities."
According to the prime minister, New Zealand also plans to increase military cooperation with Australia, one of its key regional allies.
