In the 1980s and 1990s, military spending gradually decreased, dropping to in 1999 as democratization and economic challenges took precedence. The turn of the millennium marked a steady decline, reaching a low of in 2014. More recently, military expenditure slightly increased, hitting in 2021, driven by modernization efforts in response to territorial disputes in the South China Sea. However, this trend reversed in 2022, with expenditure falling to , likely reflecting shifting fiscal priorities amid the pandemic recovery.
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