Uzbekistan to increase military expenditure by 9.48% by 2019

Tashkent, Uzbekistan (UzDaily.com) -- Strategic Defense Intelligence published a report ‘The Future of the Uzbek Defense Industry – Market Attractiveness, Competitive Landscape and Forecasts to 2019’.

The report said that over the historic period, Uzbek defense expenditure registered a growth rate of 11.65%, increasing from US$1.4 billion in 2010 to US$2.2 billion in 2014.

Uzbekistan’s military expenditure, valued at US$2.4 billion in 2015, is expected to increase to US$3.4 billion by 2019, registering a CAGR of 9.48% over the forecast period, the report added.

Uzbekistan’s military expenditure will be driven by the procurement of better defense systems and efforts to combat terrorist threats.