SecurityWorldMarket

11/01/2017

Saudi Arabia reveals 2017 defence budget

Riyadh, Saudi Arabia

Saudi Arabia has announced a 6.6% increase in defence spending as part of the government's 2017 budget. Total spending on the military will rise from SAR179.1 billion (USD47.8 billion) to SAR190.9 billion, according to IHS Janes.

The 2017 budget statement released by the Ministry of Finance on 22 December also suggests that defence spending reached a record high in 2016 despite initial indications that it would be cut.

Budgetary documentation shows that actual spending on defence in 2016 is projected to reach SAR205.1 billion (USD54.7 billion), 14.5% higher than initially budgeted. As a result, the 2017 allocation for defence is expected to be around 6.9% lower than actual spending in 2016.

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