Saudi 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‚Äôs increasing defence budget is tied to new capital programmes including new and re-fitted F-15 fighter aircraft totalling nearly $30 billion. […]