Mid East Leads Global Defence Spending Boost
Global defence spending is set to increase for the first time since the financial crisis, especially among countries in the Middle East.
Data released as part of the annual defence spending review compiled by IHS Jane's predicts there will be a 0.6% increase in the total international defence spending over the next 12 months.
Collectively the world is expected to spend $1.547trn compared to $1.538trn in 2013.
The report also shows that not only are four of the top five spenders in the Middle East, but Saudi Arabia's budget has tripled in 10 years.
That is a sign of instability and paranoia in the region.
And China is projected to outspend the UK, France and Germany combined by 2015.
However, precise figures for China's defence spending are never certain and the country's defence budget is probably considerably higher than publicly known.
Also included among the data is the forecast that non-Nato spending could overtake Nato spending by 2021.
"With military budgets among many of the major NATO nations due to continue to contract over the next 12 months, the centre of gravity of defence expenditure is expected to continue to shift south and east in 2014, following the trend of global economic expansion," said Paul Burton from IHS Jane's.
"Russia, Asia and the Middle East will provide the impetus behind the growth in global military spending expected this year and will drive the recovery projected from 2016 onwards."
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