Australia to raise defense spending to 3% of GDP

The Australian government announced on Wednesday that it will raise its defense spending to 3% of gross domestic product by 2033, up from about 2% currently. The decision is a direct response to what officials describe as the most 'complex and threatening' strategic circumstances the nation has faced since World War Two. This long-term funding commitment represents a significant ramp-up in military investment over the next decade. The move signals Australia's intent to bolster its defense capabilities amid rising regional tensions and global instability.