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Tuesday, November 06, 2007

Brazil to boost defense industry and acquire 36 fighter jets

Brazil plans a major increase of the armed forces budget and a long term boost to the local defense industry and military technology which includes the purchase of 36 fighter jets worth 2.2 billion US dollars revealed the Brazilian press over the weekend.

The announcement follows a recent decision by the President Lula da Silva administration to create a National Defence Strategy group designed to program the recovery of the “capability of our armed forces and the technological edge we once had in certain fields”.

This will begin with a 50% hike of the defense budget as of next year which will total approximately 5 billion US dollars.

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