Sunday , 19 May 2024
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Global Economy

Biden approves $770 billion defense budget

US President Joe Biden signed the National Defense Authorization Act prepared for the fiscal year 2022, which allows $ 770 billion in defense spending.It also contains important powers to support our country’s national defense,” Biden said in a statement. The defense budget for 2022 includes around 5 percent more authority than last year. The budget includes a 2.7 percent pay increase for military personnel and the purchase of more aircraft and ships. The budget also allocates $300 million for the Ukraine Defense Assistance Initiative, created to support the Ukrainian armed forces.

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