First made into law by former President Fidel V. Ramos on February 23, 1995, the Armed forces of the Philippines’ Modernization Act also known as Republic Act no. 7898, was intended to last for 15 years with a 50 billion peso budget for the first five years.
But due to the 1997 Asian financial crisis, the funding was halted and later neglected by the by successive administrations until the law expired in 2010.
In December 11, 2012, the Modernization Act was amended by the Republic Act no. 10349 also known as the revised AFP modernization act that extends the AFP’s modernization program for another 15 years, with an initial budget of 75 billion pesos for the first five years was made under the leadership of President Benigno Aquino III.
See also: 6 Possible Philippine bases to be used by US Armed Forces
The new law is aimed to increase the Armed forces of the Philippines’ capability to to assess threats from China in the disputed Spratly Islands in the West Philippine Sea along with Vietnam, Taiwan and other southeast Asian nations like Brunei and Malaysia.
The Armed Forces of the Philippines (AFP) is expecting more assets to be added to its inventory this year.
Let us all support and salute our Armed Forces! -John Esconde
The 1997 Asian financial crisis is not the reason why the RA 7898 has done nothing. The real reason why is that, the 75B budget was blown into the air by typhoon corruption.
I am so glad, Pnoy came. If not, our armed forces is still the laughing stock of our neighbors today; our airforce in particular – all air with no force.
Agreed.