Malaysia's military expenditure has experienced significant fluctuations over the past decade. From 2013 to 2017, there was a marked decline in spending, with notable year-on-year decreases in 2015 and 2016. This downward trend continued, although less steeply, towards 2018 and 2019. The period of 2020 to 2021 saw a modest recovery, with an increase in expenditures, but the growth pace stabilized around a minimal increase from 2022 to 2023. In 2023, the military expenditure stood at 3.6785 billion USD.
Considering the forecasted data from 2024 to 2028, military expenditure is expected to experience a very modest growth rate with an average annual variation of 0.16%. The overall change anticipated over the next five years is marginal.
Future trends to watch for include:
- Potential geopolitical shifts that may necessitate increased defense spending.
- Technological advancements in military capabilities prompting budget adjustments.
- Economic conditions influencing the fiscal landscape and consequently the defense budget.
