A recent announcement by Australia's Prime Minister suggests that the country's defense budget will continue to grow until 2030. Meanwhile, Australia's budget for official development assistance (ODA) has been frozen until the fiscal year (FY) 2022/23, after which development spending will be indexed to inflation.
This means that the ratio of Australia’s spending on defense as compared to its spending on development assistance will reach an unprecedented level by 2030. For the last 50 years, Australia's defense funding has exceeded spending on ODA by around 5 to 8 times. It is now projected that by 2030, Australia's defense spending will be 16 times higher than ODA.