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Thursday, January 29, 2009

Venezuela likely to buy more weapons

Venezuela may soon buy Kilo submarinesLast year Venezuela "increased its defense budget once again," thanks to oil windfall, said the International Institute for Strategic Studies.

Venezuela may buy soon Su-30 jet-fighters, Iyushin Il-76 transport aircrafts, Il-78 tanker aircrafts, Kilo submarines and Mi-28 helicopters, and is also likely to purchase Chinese products to diversify military procurement, said the International Institute for Strategic Studies (IISS) of Great Britain in its report titled The Military Balance, a comprehensive analysis of the military situation of some 170 countries.

According to the document, military expenditures in Latin American and the Caribbean grew 91 percent between 2003 and 2008.

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