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Friday, June 13, 2014

Saudi defence spending rises $16bn in five years

BGM-71 Tow missilesSaudi Arabia increased its annual defence spending by $16 billion over the past five years, according to a new report by Deloitte.

Its Global Defence Outlook 2014 study said the Gulf kingdom was one of the top six military spenders in the world.

The report said Saudi Arabia’s increasing defence budget is tied to new capital programmes including new and re-fitted F-15 fighter aircraft totalling nearly $30 billion.

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