Asia fuels rise in world defence spending: study
February 05, 2014  02:14
World defence spending will rise in 2014 for the first time in five years, a key study found today, driven by arms races in Asia and the Middle East, as well as a resurgent Russia.

The closely watched IHS Jane's Annual Defence Budgets Review said military budgets this year would inch up by 0.6 per cent, after years of falls brought on by lower spending in the West. 

"We have seen substantial increases in defence spending from countries like Russia, China, India, Saudi Arabia, and Oman over the past two years," said Paul Burton, Director of IHS Jane's Aerospace, Defence & Security.

Military spending in Russia is on the advance, the study said, with President Vladimir Putin pushing through a 44 per cent surge in defence expenditure over the next three years. 

Already, spending in Russia last year shot to USD 68 billion, putting it ahead of Britain and Japan. 

Spending by superpower China last year was USD 139 billion dollars, with only the United States expending more defence. 

In 2015, the study said military spending in China will outweigh that of Britain, France and Germany combined.
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