Venezuela Defence and Security Report 2010 - new market report released
August 19, 2010
(live-PR.com) - In 2009 Venezuela was officially in recession. Its valuable oil exports are on a downward trend and the constraints on production capacity are of concern. Despite this, its military spending on arms imports is increasing. South America is in the process of armed forces modernisation and upgrades, but recent Venezuelan purchases, most notably Russian Sukhoi fighter jets, are sophisticated systems that go beyond building for defense against external threats and could further enhance a regional arms race that is already under way. This trend is likely to intensify due to ‘copycat’ weapons buying, which has been triggered by recent increased military spending in some countries and reactions of their neighbors.
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