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Saudi cuts drag regional defence spending down by one-third
A combination of low oil revenues and an anti-corruption drive in one corner of the region has had a dramatic impact on military spending in the Gulf. There was a 30% decline in expenditure among Gulf Co-operation Council (GCC) countries last year, compared to 2015, according to newly-compiled data by the International Institute for Strategic Studies (IISS). It is the first time defence spending’s share of GDP has declined since 2010, according to the London-based think-tank’s Military Balance 2017 report.
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