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Friday 8 May 2015

AFRICA IS BUYING ARMS BIG TIME, NEW DATA SHOWS, BUT LOW OIL PRICES COULD SLAM THE DOOR

The two biggest spenders were Algeria and Angola, which have since that year respectively trebled and doubled their military spending.


AFRICA spent $50.2 billion on military expenditure last year, data from the Stockholm International Peace Research Institute (SIPRI) shows.

While this was just 2.85% of the global bill of $1.78 trillion, it was the largest year-on-year increase of any region worldwide, the Sweden-based research institution said.

This adds to data released last month that showed the region increased its uptake of global arms 45% between 2005-2009.

Military spending in the region has increased by 91% since 2005, despite data that shows the magnitude of general armed conflict has fallen over that time, though at a slower pace than in the rest of the world.

The two biggest spenders were Algeria and Angola, which have since that year respectively trebled and doubled their military spending.

Algeria, which is in conflict with rebel groups, increased its spending 12% to fork out $11.9 billion last year, while Angola spent $6.8 billion, raising its spending by 6.7% on the year before. They both financed their expenditure using high oil revenues, but prices have since fallen precipitously, and could this year see major reversals in their spending.

Russia, which spent $84.5 billion last year, has already cut planned spending for this year by 5%, even as it remained involved in the conflict in the Ukraine and frosty ties with the West persist.

The two African countries are part of 20 countries globally with the highest military burden—a measure of a state’s defence expenditure as a share of its Gross Domestic Product—of more than 4%. Half of these had military burdens of more than five percent of their GDP.

Military spend in Africa (2014)

S. SudanChadLibyaCongo RepAlgeriaAngolaNamibia012345678910Military spend as % GDP

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