OCT. 8 2013 (The Conway Bulletin) — One of the features of Azerbaijan’s oil boom has been its parallel armaments boom. As Azerbaijan’s economy has grown, so has its expenditure on weapons.
And 2014, according to media reports, is not going to be an exception. The Azerbaijani state budget forecasts spending 1.6b manat ($2b) on weapons next year, a 7% increase on 2013.
Azerbaijan is still at war, officially anyway, with Armenia over the disputed region of Nagorno-Karabakh. It is clearly winning the arms race with its neighbour and biggest enemy.
The Stockholm International Peace Research Institute (Sipri) has estimated that in real terms, taking out inflation and currency fluctuations, Azerbaijan’s military spending has increased ten-fold since 2000. Armenia has doubled defence spending in the same period.
ENDS
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(News report from Issue No. 155, published on Oct. 9 2013)