CANBERRA, Feb. 24 (Xinhua) -- Australia will raise defence spending to 2 percent of its gross domestic product (GDP) over the next seven years in a formal announcement to be made by Prime Minister Malcolm Turnbull later this week.
Speaking to the press on Wednesday, Turnbull said the investment, to be revealed as part of the long-anticipated Defence White Paper, would serve Australia for "decades" to come.
"(The paper) sets out the plan for Australia's defence, security and investment. It's focused on securing our nation decades into the future," Turnbull said.
"It is a thoroughly, carefully, fully costed document and in that sense it is very different to the last paper."
According to News Corp, which secured a copy of the White Paper before its release on Thursday, the Australian Defence Force (ADF) will recruit more than 5,000 new troops, upgrade troop weapons and armored vehicles, while it will also splurge on 12 new submarines and an upgraded air force fleet - both combat and reconnaissance.
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