Middle Eastern countries led by Saudi Arabia and Oman have rapidly been increasing their defense budgets since 2011, one of the reasons global military spending will rise again this year, a new study shows.
Four out of the five countries that saw the fastest rise in military spending are from the Middle East, according to IHS Jane’s Annual Defence Budgets Review.
“We have seen a rapid acceleration of defense spending in the Middle East since 2011. Oman and Saudi Arabia, in particular, have seen rapid growth of over 30% between 2011 and 2013,” said Fenella McGerty, a senior analyst for IHS Jane’s Aerospace, Defence & Security. […]