Wednesday, February 27, 2013

Myanmar's Military Spending Through the State Budget in 2013-2014 Amount to About $ 2 Billion

BTR-3U of the Myanmar Army (photo : Myanmar Army Corps)

TSAMTO, (IMP) -- The Myanmar Government has allocated for defense in fiscal year 2013-2014 20.8% of the national budget, or about $ 2 billion, according to "Jane's Defence Weekly," referring to the local sources.

The draft defense budget proposed by the government on February 19, will come into force on April 1. According to experts, the share devoted to the military, reduced compared with appropriations for FY 2012-2013.

However, military expenditure for the state budget does not include funds received by the enterprises of the military, which is distributed in accordance with the Law on Special Funds.

Law on Special Funds was adopted in March 2011 and allows the armed forces to use the additional funds without parliamentary oversight.

Type 59D MBT of the Myanmar Army (photo : Myanmar Army Corps)

Financing of special funds, is likely to increase as through proceeds from the exploitation of mineral deposits, primarily natural gas.

Due to the growth of foreign investment in the gas sector, the International Monetary Fund expects the gross domestic product of Myanmar from 59 billion dollars in 2013 to 77 billion in 2017, with an annual growth rate of about 7% (Myanmar has developed several large gas fields) .

It should be noted that the sanctions imposed on Myanmar by Western countries, led to the fact that the main suppliers of arms to the market are China and Russia. In 2009, Myanmar ordered 20 MiG-29 in Russia and 60 SS K-8 "Karakorum" in China.

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