Pen­tagon chief to pre­view fis­cal 2017 bud­get

The Pak Banker - - BUSINESS -

U.S. De­fense Sec­re­tary Ash Carter is sched­uled to pre­view the Pen­tagon's fis­cal 2017 bud­get re­quest in a speech on Feb. 2, a week be­fore the White House sends its bud­get plans to Congress, two U.S. de­fense of­fi­cials said on Mon­day.

Carter is ex­pected to high­light the broad themes of the Pen­tagon's bud­get re­quest and its pri­or­i­ties, rather than pre­sent­ing a de­tailed list of pro­gram­matic changes, said one of the sources, who was not au­tho­rized to speak pub­licly.

A mas­sive govern­ment spend­ing bill en­acted by Congress last year set a spend­ing level of about $576 bil­lion for the Pen­tagon in fis­cal 2017, which meant the De­fense Depart­ment had to trim its planned fund­ing lev­els by about $15 bil­lion.

The White House ear­lier this month said it plans to re­lease Pres­i­dent Barack Obama's bud­get pro­posal for fis­cal year 2017, which be­gins on Oct. 1, on Feb. 9.

Lock­heed Martin Corp (LMT.N), maker of the F-35 fighter jet, Boe­ing Co (BA.N) and other big weapons mak­ers are anx­iously await­ing de­tails about the bud­get and how it will af­fect their pro­grams.

Se­nior de­fense of­fi­cials have said that the $15 bil­lion in cuts would largely come from pro­cure­ment ac­counts since per­son­nel costs and op­er­a­tions costs were harder to cut.

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